Citibank, Kingfisher Airlines get service tax notice on IPL

Mumbai: The Central Board of Excise and Customs (CBEC) has issued show-cause notices to Citibank NA and Kingfisher Airlines Ltd for not paying service tax related to their sponsorship of the Indian Premier League (IPL), according to two officials familiar with the development.
The notices have been issued by CBEC’s service tax department in Mumbai for fiscals 2008-09 and 2009-10. The officials cited above did not want to be named as they are not authorized to speak to the media.
CBEC is the apex body that regulates and administers collection of indirect taxes. The officials didn’t give details of the amount in question.
The department is also likely to issue notices to some cricketers and IPL franchisees for not paying service tax, said one of the officials cited above.
A show-cause notice is not an indictment, but seeks an explanation from a company, typically within a month.
09/11/10 Khushboo Narayan, Anushree Chandran & P.R. Sanjai/Live Mint

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Categories: Kingfisher Nov 2010