CAG says Rs 48,258-cr service tax pending
As a result of litigation and decision pending with different authorities, Rs 48,258 crore of service tax is reported to be pending as on March 31, 2011.business Updated: Mar 30, 2012 23:30 IST
As a result of litigation and decision pending with different authorities, Rs 48,258 crore of service tax is reported to be pending as on March 31, 2011.
According to the Comptroller and Auditor General (CAG) report on compliance audit of indirect taxes (service tax) tabled in the Parliament on Friday, 63,025 cases involving tax of Rs 48,258 crore were found pending from the Supreme Court to adjudicating officers of the tax department. Due to coercive recovery measures, Rs 1,304 crore worth taxes were pending under 24,722 cases.
The CAG has observed that service tax of Rs 24.36 crore was not paid by un-registered service providers and due to incorrect valuation of taxable services, Rs 9.5 crore was short paid.
The CAG in its audit report on central excise has mentioned 17 cases of irregular availing and utilisation of cenvat credit involving revenue of Rs 25.36 crore. Under cenvat credit scheme, credit is allowed for duty paid on 'specified inputs/ capital goods' and service tax paid on 'specified input services' used in the manufacture of finished goods.
First Published: Mar 30, 2012 23:27 IST