The government has slapped a INR331.2 million fine on Siti Cable Network Ltd, saying that the company has failed to pay its entertainment tax dues. Multi system operator (MSO) Siti Cable has denied the tax fraud allegation.
The MSO added that it has not received any notice regarding the order passed by Entertainment Tax Department, Government of Delhi. According to the government, Siti Cable has been involved in a “tax fraud” since April, 2013. The company, collected INR20 from each of its 536,616 subscribers or about INR130 million in total. Siti Cable, however, paid only INR46.3 million in taxes.
“It has been found that this company has committed a serious illegal act of tax evasion by duping the government despite having collected the amount in the name of taxes from its innocent customers,” government said in a statement, reports Press Trust of India.
The Delhi government has now slapped a 100% penalty on the outstanding tax amount of INR83.2 million). The MSO will also have to pay Rs 30.6 million under the relevant provisions of Delhi Entertainments and Betting Tax Act 1996. ”The complete assessment, including additional tax, penalty and interest for the financial year 2013-14, which this company now has to pay to the government stands at Rs 19.71 crore,” government said, according to PTI. Siti Cable has been asked to deposit INR331million by April 22, 2015.
In a statement to Bombay Stock Exchange, Siti Cable denied charges of entertainment tax evasion. . “It (Siti Cable) has already challenged the vires of the Delhi Entertainment and Betting Tax Act, 1996 vide its Writ Petition being No. 427 of 2014 which is subjudice before the Hon ble Delhi High Court,” the company told BSE.
The MSO added that it has not received any notice regarding the order passed by Entertainment Tax Department, Government of Delhi. According to the government, Siti Cable has been involved in a “tax fraud” since April, 2013. The company, collected INR20 from each of its 536,616 subscribers or about INR130 million in total. Siti Cable, however, paid only INR46.3 million in taxes.
“It has been found that this company has committed a serious illegal act of tax evasion by duping the government despite having collected the amount in the name of taxes from its innocent customers,” government said in a statement, reports Press Trust of India.
The Delhi government has now slapped a 100% penalty on the outstanding tax amount of INR83.2 million). The MSO will also have to pay Rs 30.6 million under the relevant provisions of Delhi Entertainments and Betting Tax Act 1996. ”The complete assessment, including additional tax, penalty and interest for the financial year 2013-14, which this company now has to pay to the government stands at Rs 19.71 crore,” government said, according to PTI. Siti Cable has been asked to deposit INR331million by April 22, 2015.
In a statement to Bombay Stock Exchange, Siti Cable denied charges of entertainment tax evasion. . “It (Siti Cable) has already challenged the vires of the Delhi Entertainment and Betting Tax Act, 1996 vide its Writ Petition being No. 427 of 2014 which is subjudice before the Hon ble Delhi High Court,” the company told BSE.
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