The Central Excise and Service Tax Appellate Tribunal (CESTAT) has passed an order against Jet asking it to pre-deposit around Rs 147 crore for non-payment of service tax within eight weeks, reports CNBC-TV18’s Aastha Maheshwari. As per the CESTAT order, the private carrier has not paid taxes on services that it received from some of the foreign companies. These include software firms which provided services related to database access, seat reservations and flight bookings. According to Section 66A of the Finance Act, if the service provider is situated abroad, then the Indian company which is getting the service is expected to pay the tax. The investigation pertaining to this case started in 2005.
28/04/14 Aastha Maheswari/CNBC-TV18/moneycontrol.com
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28/04/14 Aastha Maheswari/CNBC-TV18/moneycontrol.com
