Diabytes
Service Tax department News
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Around 81,500 companies from the city have already migrated to the GST portal so far and the service tax department is hopeful that the remaining ones will be doing so by the April 30 deadline.
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In July 2014, the Telangana government had announced that Sania would be the state's Brand Ambassador, and gave her Rs one crore towards preparations for major tournaments
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Principal Commissioner of Service Tax office here issued the summons to the tennis star on February 6 and appear before it in person or by an authorised agent on February 16.
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The Service Tax Department will auction liquor baron Vijay Mallya-led now-defunct Kingfisher Airlines' corporate jet in March to recover dues of Rs 535 crore.
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In its bid to recover around Rs 535 crore due from beleaguered businessman Vijay Mallya, the Service Tax Department is looking at having more participation when it reauctions his luxury personal jet on November 28-29.
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The Tax Department has slapped a service tax demand of over Rs 6,100 crore on the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), a move that may potentially render its investments in oil and gas fields abroad infructuous.
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Vijay Mallya, Chairman of the now-defunct Kingfisher Airlines, is facing action after defaulting on over Rs 9,000-crore loan from 17 banks.
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The Service Tax Department may go for another round of bidding for luxury jet of embattled businessman Vijay Mallya as the highest bid received during the auction here was a measly Rs 27 crore against the reserve price of Rs 152 crore.
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On June 30, the department had rejected the sole bid of Rs 1.09 crore offered by the United Arab Emirates-based aviation support firm Alna Aero Distributional Finance Holdings, against a reserve price of Rs 152 crore.
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In another failed attempt at recovering money from beleaguered businessman Vijay Mallya through sale of his assets, a lone bidder turned up for the auction of his personal jet with a bid of Rs 1.09 crore -- less than a per cent of Rs 152 crore reserve price.
The Bombay High Court will hear on Friday a plea by Service Tax Department against Vijay Mallya for recovery of dues from Kingfisher Airlines.
"With a view to improve collection, the Service Tax department has prepared sector specific profile of five sectors which are prone to evasion," a senior official told PTI.
Gold loan firm Muthoot Finance Monday said it has received a service tax notice demanding Rs 153.14 crore in taxes in addition to interest and penalty.
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