Feb 01, 2013, 10.41 PM | Source: CNBC-TV18
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.