New Delhi:
The Central Board of Excise and Customs (CBEC) has agreed to 'de-freeze' Kingfisher Airline's accounts. The private carrier assured its board on Monday that all arrears would be paid by March 2012, finance ministry sources said. It is learnt that Vijay Mallya, chairman at Kingfisher Airlines, met with CBEC chairman S K Goel on Monday.
The company owes over Rs 15 crore in service tax for the month of November. The company has assured CBEC that the November outstanding amount would be paid by tomorrow.
Last Thursday, 10 bank accounts of Kingfisher Airlines were frozen for non-payment of service tax dues.
Kingfisher Airlines owes Rs 70 crore to the service tax department, according to a previous report. The airline defaulted on the payment of service tax to the government, even though it was collected from customers on tickets sales. The report also said that the action had to be initiated against the airline because the company failed to clear dues within the stipulated time period.
Kingfisher Airlines shares rose 1 per cent on Monday when benchmark indices fell over 2 per cent.
The company owes over Rs 15 crore in service tax for the month of November. The company has assured CBEC that the November outstanding amount would be paid by tomorrow.
Last Thursday, 10 bank accounts of Kingfisher Airlines were frozen for non-payment of service tax dues.
Kingfisher Airlines owes Rs 70 crore to the service tax department, according to a previous report. The airline defaulted on the payment of service tax to the government, even though it was collected from customers on tickets sales. The report also said that the action had to be initiated against the airline because the company failed to clear dues within the stipulated time period.
Kingfisher Airlines shares rose 1 per cent on Monday when benchmark indices fell over 2 per cent.
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