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Government moves to recover Rs 3,348 crore from service tax collectors

Posted Date : 04-May-2016 , 07:07:10 am | Posted By CASANSAAR print Print
In order to recover Rs 3,348 crore dues, the service tax department has issued 834 show cause notices to service providers who collected the tax from customers but did not deposit it in government accounts in 2015-16. 

"There have been cases of service providers who have collected service tax from the recipient of various services but have not deposited it in the government account," Minister of State for Finance Jayant Sinha said in a written reply to Rajya Sabha. 

The department issued as many as 834 show cause notices to defaulters for not paying service tax dues totalling Rs 3,348 crore in the last fiscal year, he said. 

The minister also said that as many as 580 show cause notices were issued to defaulters for not paying service tax dues totalling Rs 1673.73 crore in 2014-15. 

A service provider who has collected service tax but fails to pay it to the central government beyond a period of six months, from the date on which such payment is due, and the amount exceeds Rs 50 lakh, is liable to be arrested. 

In Finance Bill 2016, it is proposed to enhance the limit from Rs 50 lakh to Rs 2 crore. A person committing such an offence is also liable for up to 7-year imprisonment. #casansaar (PTI - Economic Times)
 
 

Category : Service Tax | Comments : 0 | Hits : 374

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