Thursday, 9 April 2015

Delhi govt levies Rs 33 cr penalty on Siti Cable for entertainment tax evasion

Siti Cable Network, an Essel Group Company has been directed by Delhi government to deposit Rs 33.12 crore as its outstanding entertainment tax for two years along with interest and penalty by 22 April. Siti Cable however, has denied this and in a statement said that the matter in sub judice as they have already challenged the demand of Delhi Government.
Delhi government has revealed that the MSO has not deposited the tax since April 2013 despite having collected the amount in the name of taxes from its 5,36,616 customers at the rate of Rs 20 per month.
It is alleged that in the financial year, 2013-14, Siti Cable had collected around Rs 13 crore in the name of entertainment tax from its customers while it deposited only Rs 4.63 crore.  The rest amount of Rs 8.32 crore which should have been deposited on a monthly basis to the government exchequer had been pocketed by the MSO.
Taking cognizance of the fraud, the Delhi government has levied a 100 % penalty of Rs 8.32 crore and an interest of Rs 3.06 crore under the relevant provisions of the Delhi Entertainments and Betting Tax Act 1996.
The complete assessment including additional tax, penalty and interest for the financial year 2013-14, is Rs 19.71crore, which the company has to pay to the government.
Similarly, it has been found that SITI Cable continued tax evasion during the financial year of 2014-15 also. The government has assessed the tax, interest and penalty for 2014-15 at Rs 13.41 crore.
SITI Cable has been directed to pay Rs a total of 33.12 crore to the government till April 22.
Sourcehttp://cablequest.org/news/cable-news/item/6750-delhi-govt-levies-rs-33-cr-penalty-on-siti-cable-for-entertainment-tax-evasion.html

Source: http://cablequest.org/news/cable-news/item/6750-delhi-govt-levies-rs-33-cr-penalty-on-siti-cable-for-entertainment-tax-evasion.html

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