No Finding Received on Rs. 30 Crore Service Tax Evasion Charge: DLF
A case against DLF was earlier registered by the Directorate General of Central Excise Intelligence (DGCEI) for alleged non -payment of service tax over transfer of development rights to other firms
Oct 01, 2014
Source : profit.ndtv.com
DLF

 

New Delhi: DLF, India's largest realty firm, on Tuesday said it has not received any findings from authorities on alleged service tax evasion of about Rs. 30 crore.

The company was responding to clarification sought by National Stock Exchange (NSE) on reports that the real estate firm has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs. 30 crore.

"DLF and its associates pay a total service tax of more than Rs. 500 crore per annum to the government of India and there is no question of evading service tax of Rs. 30 crore across multiple years...," DLF said in a filing to the BSE.

"We would also like to point out that we have so far not received any findings or observations from any wing of the Service Tax Department" with reference to this matter," the filing noted.

DLF said industry players have sought clarification with the tax authorities on the issue of service tax on development rights.

Since development rights are a part of immovable property, it is not subject to service tax, DLF added.

A case against DLF has been registered by the Directorate General of Central Excise Intelligence (DGCEI) for alleged non -payment of service tax over transfer of development rights to other firms, official sources had said

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