New Delhi: Airports Authority of India (AAI) was deprived of revenue of Rs 42.23 crore by Delhi International Airport Ltd (DIAL), as the private sector airport operator did not account for an amount of Rs 91.83 crore as income, the Comptroller and Auditor General (CAG) has said.
In a report tabled in Parliament on Thursday, the CAG has alleged DIAL utilised the value of Duty Credit Scrip amounting to Rs 91.83 crore, earned under the Served From India Scheme (SFIS) for payment of duty but did not account for this as income.
“This deprived AAI from getting the 45.99 per cent share of the revenue i.e. Rs 42.23 crore as per the Operations, Maintenance and Development Agreement,” the report points out. Under the terms of SFIS, service providers are entitled to duty credit scrip as a percentage of foreign exchange earned by them that can be utilised for payment of import duty in case of imports.
08/08/13 Business Line
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In a report tabled in Parliament on Thursday, the CAG has alleged DIAL utilised the value of Duty Credit Scrip amounting to Rs 91.83 crore, earned under the Served From India Scheme (SFIS) for payment of duty but did not account for this as income.
“This deprived AAI from getting the 45.99 per cent share of the revenue i.e. Rs 42.23 crore as per the Operations, Maintenance and Development Agreement,” the report points out. Under the terms of SFIS, service providers are entitled to duty credit scrip as a percentage of foreign exchange earned by them that can be utilised for payment of import duty in case of imports.
08/08/13 Business Line
