Jet confirms JetLite’s Rs100 cr tax notice

New Delhi: Jet Airways (India) Ltd on Wednesday confirmed a ‘Mint’ Page 1 story published on 17 June that its low-fare subsidiary, JetLite (India) Ltd, has been asked to appear before the government for non-payment of Rs100 crore in service tax.
In a statement to the Bombay Stock Exchange, Jet Airways said: “The Directorate General of Central Excise Intelligence is conducting an investigation into the alleged non-payment of service tax by Sahara Airlines Ltd.” Jet Airways had acquired Sahara Airlines from the Sahara group last year and rebranded it JetLite.
“The inquiry relates to a period(s) prior to the acquisition of Sahara Airlines Ltd by Jet Airways (India) Ltd on April 20, 2007,” the statement said, adding that the liability, if any, for the tax demands rests with the earlier owners of Sahara Airlines.
19/06/08 Livemint

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Categories: JetLite Jun 2008