Tata Motors, Kingfisher Airlines owe over Rs 1,000 crore each in indirect tax
Tata Motors and Kingfisher Airlines are among the four companies that owe over Rs 1,000 crore in indirect taxes to the exchequer, Parliament was informed on Friday.
New Delhi: Tata Motors and Kingfisher Airlines are among the four companies that owe over Rs 1,000 crore in indirect taxes to the exchequer, Parliament was informed on Friday.
Tata Motors has outstanding excise duty of Rs 629.76 crore in 91 cases and service tax dues of Rs 516.09 crore in 5 cases. This takes the total amount due in taxes to Rs 1,145.85 crore.
Vijay Mallya-promoted Kingfisher Airlines, now defunct, owes Rs 1,012.96 crore in service tax and penalty.
The other two entities which owe more than Rs 1,000 crore in service taxes to the exchequer are Karnataka Industrial Area Development Board (Rs 2,590 crore) and Karnataka Housing Board (Rs 1,083 crore), Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Lok Sabha.
As regards direct taxes, he said as on June 2016 there are 80 cases with outstanding tax demand exceeding Rs 1,000 crore each, aggregating to over Rs 4.53 lakh crore.
"However, disclosure of information in specific cases is prohibited except as provided under Section 138 of the Income Tax Act, 1961," Gangwar said.