Feb 01, 2013, 10.41 PM IST
In a bid to shore up indirect tax revenues that are falling below target, the CBEC has issued a warning to those evading service tax.
The department has found evasion to the tune of Rs 9800 crore where tax has been collected from consumers but not deposited to retailers. Companies in the oil and gas sector, pharma and construction amongst others have been found to evade tax.
However, even as it warned of prosecution, CBEC refused to comment on the action being taken against KFA for tax evasion.
Video of the day
Dec 11 2013, 09:54
- in Business
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.