Service Tax - Aishwarya Rai, Shah Rukh Khan and Amitabh Bachhan have clean slates while PSUs like Power Grid Corporation and Central Silk Board are on the dock
The DG, Service Tax, Mr K.P.Singh gave a clean chit to stars like Aishwaraya Rai and Amitabh Bachan, while Government owned companies like Power Grid Corporation and the Silk Board were not exactly ready to comply with tax laws. Mr. Singh was addressing a press conference in Bangalore yesterday. He said that a Bangalore-based multinational company (which he refused to name for another 15 days) had defaulted nearly Rs 4 Crores.
He said that whenever defaulters are tracked, they will have to pay 200% as penalty.
Mr Singh's target for the year is Rs 14150 Crores and collections up to January are less than 10000 Crores. So he is required to collect another 4000 Crores in the next two months. It is understood that he has promised to collect Rs 20,000 Crores. The next fifty days are going to be hot for the officers of the department to somehow realise impossible targets. And mind you they will pass on the heat. If things go, as they do now, a day will come, when the trade and industry will close down business in March to escape from the clutches of target hungry officialdom.