New Delhi: Cash-strapped Kingfisher Airlines has paid Rs 15 crore as service tax dues in April this year but is still to pay up Rs 54 crore arrear, Central Board of Excise and Customs (CBEC) Chairman SK Goel said on Monday. "They (Kingfisher Airlines) are paying their monthly dues every month. They are also paying their arrears. Last month, they paid about Rs 15 crore...Rs 54 crore total arrears left,"...
01:57 AM, May 22, 2012
New Delhi: Finance Minister Pranab Mukherjee is expected to reply on Tuesday to various proposals in his 2012-13 budget. The Finance Minister will be seeking Parliament's approval to move the Finance Bill and is likely to relook at some of the controversial proposals, such as changes in the tax laws that would impact Vodafone and the implementation of the General Anti-Avoidance Rules (GAAR). Sources point out that a major rollback...
07:14 AM, May 08, 2012
New Delhi: It's the start of a new financial year and the 'aam aadmi' will have to pay more as a host of duty and fare hikes come into effect from Sunday. The 2 per cent increase in service and excise duty has taken effect. Eating out may leave you a few pounds heavier but your pockets will be lighter. All luxury items including cars and beauty spa treatment will...
09:10 AM, Apr 01, 2012
New Delhi: Civil Aviation Minister Ajit Singh has warned Kingfisher Airlines Chairman Vijay Mallya to pay his dues in order to keep flying. This came just hours before the Directorate General of Civil Aviation (DGCA) comes out with its report on the cash-strapped private carrier on Monday. Singh said the aviation watchdog will call Mallya again to ensure that safety and passenger convenience is not being compromised. "The DGCA is...
06:16 AM, Mar 26, 2012
Mumbai: Cash-strapped Kingfisher Airlines, which has massively cut down operations including completely winding up international services, has agreed to pay only up to Rs 10 crore of its Rs 76-crore service tax dues this fiscal, a top Government official has said. The beleaguered airline, which has faced stern warnings from the regulator DGCA and Aviation Ministry for failing to come up a with workable flight schedule and revival plan, owes...
11:59 AM, Mar 25, 2012
New Delhi: A Finance Ministry official has said that cash-strapped Kingfisher Airlines has sought more time from the revenue department to pay its Service Tax dues of about Rs 76 crore. "They want some more time...They have made a request. Will see what can be done?" Central Board of Excise and Customs (CBEC) Chairman S K Goel told reporters in New Delhi. He was replying to a query on whether...
06:25 PM, Mar 23, 2012
New Delhi: With service tax set to rise from 10 to 12 per cent, telecom companies on Saturday said tariffs for all telecom services will rise from the date the hike in tax is notified. "We are very disappointed with increase in service tax. Industry has been under attack for raising (tariff) but this time government itself has raised service tax which will take phone service charges up," GSM industry...
08:34 PM, Mar 17, 2012
First class and AC rail fares will rise due to the increase in service tax. Will Mamata Banerjee derail the proposal? ...
02:27 PM, Mar 17, 2012
New Delhi: Budget 2012, presented by Finance Minister Pranab Mukherjee makes branded clothes, footwear, mobiles phones and LCD TVs cheaper. Also apart from cheaper imported medical equipment, prices of HIV and cancer medicines are to go down too. But two and four wheelers will get more expensive so are refrigerators, ACs, washing machines, watches, cosmetics and tobacco products. Also biting hard is air travel, hotel stay and eating out will...
06:42 AM, Mar 17, 2012
New Delhi: Almost all the manufactured items used in every day life will become costlier, while luxury cars, gold, eating out at restaurants or hotel accommodation will become even more expensive after a steep hike in tax rates proposed in Budget 2012-13. Cigarettes and bidis will also become dearer as Finance Minister Pranab Mukherjee has proposed to tax these items more in the Budget for 2012-13. With service tax being...
03:28 PM, Mar 16, 2012
New Delhi: Telephone use, eat-outs and other activities will cost more as Finance Minister Pranab Mukherjee on Friday proposed increasing the service tax rate to 12 per cent from 10 per cent and introducing a negative list aimed at bringing more services under the tax net. "I propose to raise the service tax rate from 10 per cent to 12 per cent ... My proposals from service tax are expected...
02:31 PM, Mar 16, 2012
New Delhi: Budget 2012, presented by Finance Minister Pranab Mukherjee, identifies five objectives relating to growth recovery, private investment, supply bottlenecks, malnutrition and governance matters. Following are the highlights of Budget 2012: GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13 Amendment to the FRBM Act proposed as part of Finance Bill. New concepts of "Effective Revenue Deficit" and "Medium Term Expenditure Framework" introduced Central subsidies to...
01:14 PM, Mar 16, 2012
New Delhi: Finance Minister Pranab Mukherjee's Budget failed to send out a strong message about the reform process while coming out with a subsidy management plan and announced a new income tax structure. Experts labelled the it as an '80s style' Budget. Mukherjee began by admitting that the global crisis had affected the Indian economy. However, he said that a major turnaround might be expected soon. Budget 2012: How it...
01:07 PM, Mar 16, 2012
New Delhi: There seems to be no end to the woes of crisis-hit Kingfisher Airlines. Forty more bank accounts of the airlines have been frozen by the Service Tax Department. The Service Tax Commissioner said Kingfisher Airlines owes Rs 40 crore in tax arrears. Earlier on Friday, reports said that seven accounts of the beleaguered airline were been attached by the Service Tax Department. The Service Tax Department had also...
01:52 PM, Mar 03, 2012
New Delhi: Ahead of the Union Budget, Finance Ministers of all the states will be meeting in New Delhi on Saturday. They are expected to suggest steps to increase the ambit of the service tax net. The ministers have also prepared a negative list and are expected to sort out issues concerning definition of services. They are also expected to discuss ways in which more economic activities could be brought...
08:54 AM, Mar 03, 2012
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