Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: cpt :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: VAT Audit :: due date for vat payment :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
 
 
« General »
 India's tax department signs 3 advance pricing agreements
 Income Tax Dept to probe deeper into suspicious bank accounts
 Modi may lower taxes to spur demand in his budget sops
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy

Vijay Mallya may face prosecution for not paying service tax arrears
August, 09th 2013

The indirect tax department on Thursday hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case.

"Prosecution is definitely a provision there in the act. And that decision of taking action on Kingfisher owner for not paying service tax arrears will be taken by the concerned commissioner," Lipika Majumdar Roy Chowdhury, member of the Central Board of Excise and Customs, told reporters here.

"The commissioners are trying their best to recover the amount and some money has been recovered. But there were several showcause notices which are in the process of adjudication," she said after Finance Minister P Chidambaram released a booklet on frequently asked questions on a voluntary compliance encouragement scheme for service tax.

The grounded airline owes about Rs 190 crore to the service tax department, of which Rs 127 crore is under litigation as of December 2012.

Section 91, which was incorporated in this year's finance bill, provides power to arrest a person for non-payment of collected service tax by an officer not below the rank of superintendent of central excise.

The bill, which was passed on May 10, imposes a penalty on a person or company liable to pay service tax and fails to take a registration number from the government.

Last year, the service tax department had seized three aircraft of Kingfisher Airlines, including a 62-seater ATR, for non-payment of dues.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions