Revenue dept working on plan to get Rs 200 cr dues from KFA
21 Nov 2012 10:54 PM GMT
The Revenue Department is working on a comprehensive plan to recover tax dues from debt-ridden Kingfisher Airlines (KFA), which owes more than Rs 200 crore to the exchequer, a top finance ministry official said on Tuesday.
‘As a matter of fact both Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) have quantified the amount which Kingfisher owe to the government and we will be making out comprehensive plan to recover tax dues,’ CBEC chairman Praveen Mahajan told reporters on the sidelines of an event organised by industry body CII here.
Kingfisher Airlines, which has been making losses since its inception in 2005, owes more than Rs 200 crore in taxes to the government.
Mahajan further said, ‘We have already frozen KFA’s accounts. Whatever is there in service tax act, we have taken all the actions because this is in our interest also.’
When asked whether the CBEC is contemplating prosecuting KFA, Mahajan said,’Prosecution also might happen...But everything takes time. There are different steps you have to take before you prosecute some body.’
‘As a matter of fact both Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) have quantified the amount which Kingfisher owe to the government and we will be making out comprehensive plan to recover tax dues,’ CBEC chairman Praveen Mahajan told reporters on the sidelines of an event organised by industry body CII here.
Kingfisher Airlines, which has been making losses since its inception in 2005, owes more than Rs 200 crore in taxes to the government.
Mahajan further said, ‘We have already frozen KFA’s accounts. Whatever is there in service tax act, we have taken all the actions because this is in our interest also.’
When asked whether the CBEC is contemplating prosecuting KFA, Mahajan said,’Prosecution also might happen...But everything takes time. There are different steps you have to take before you prosecute some body.’
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