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Revenue dept to chalk out plan to recover Rs200 crore from Kingfisher Airlines

[email protected] (PTI)
November 20, 2012
king_200crore

New Delhi, November 20: The revenue department is working on a comprehensive plan to recover tax dues from debt-ridden Kingfisher Airlines (KFA), which owes more than Rs200 crore to the exchequer, a top finance ministry official said on Tuesday.

"As a matter of fact both Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) have quantified the amount which Kingfisher owe to the government and we will be making out comprehensive plan to recover tax dues," CBEC Chairman Praveen Mahajan told reporters on the sidelines of an event organised by industry body CII here.

Kingfisher Airlines, which has been making losses since its inception in 2005, owes more than Rs200 crore in taxes to the government.

Mahajan further said, "We have already frozen KFA's accounts. Whatever is there in service tax act, we have taken all the actions because this is in our interest also."

When asked whether the CBEC is contemplating prosecuting KFA, Mahajan said,"Prosecution also might happen...But everything takes time. There are different steps you have to take before you prosecute some body."

The CBEC chief indicated that the reveune department might talk to aviation regulator DGCA as the beleaguered airlines is likely to submit a comprehensive revival plan to DGCA by this month-end.

"Finance minister P Chidambaram has told CBDT and CBEC to get together and plan it out and whether it invloves talking to regulator or whatever," she said.

Answering questions on revenue collection, Mahajan expressed confidence that the government will be able to meet indirect tax realisation target of Rs 5.05 lakh crore for 2012-13. The indirect taxes during April-September rose by 15.6% to Rs2.17 lakh crore as against the annual target of 27%.

"Tax collection is doing better. We are hopeful of meeting the target. Service tax collection growth is already more than 35%," she said.


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Agencies
January 12,2020

Lucknow, Jan 12: The controversy over renowned Pakistani poet Faiz Ahmad Faiz's iconic poem 'Hum dekhenge' may have caused an upheaval in the literary world but it has also helped in resurrecting the famous poet for the young generations.

Students and young professionals are making a beeline for books on Faiz, his biography and his poems and book sellers are ordering supplies of Faiz books.

"Earlier, we sold hardly one book in a month or on Faiz but after the controversy, people are curious to know more about the poet and his poems. We have placed orders for the entire literary range on Faiz Ahmad Faiz," said a leading book seller in Hazratganj in Lucknow.

The bookseller said that the highest demand was for books written in Devnagri script.

"Not many in the young generation can read or write Urdu so they prefer Devnagri," the book seller said.

In Kanpur, most of the leading bookshops have already run out of stocks and book stalls in the ongoing Handloom Expo are drawing huge crowds for Faiz books.

Suchita Srivastava, B.Ed student in Kanpur said, "I have never been fond of Urdu poetry because I do not understand much of the language but after the controversy, I want to read poems of Faiz to understand what he wanted to say. I am taking help of Google to understand difficult words in Urdu."

Krishna Rao, another student at the Chandra Shekhar Azad University of Agriculture and Technology, said that since books on Faiz had been sold out, he had ordered a Kindle edition and was reading them.

"Reading his poems actually widens one's perspective of things and becomes even more precious if you take into account the time and context in which they were written," he said.

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News Network
June 18,2020

New Delhi, Jun 18: Prime Minister Narendra Modi on Thursday said he is "deeply grateful" for the overwhelming support shown by the global community for India''s membership of the UN Security Council.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

India garnered 184 votes out of the 192 ballots cast in the General Assembly to win the election for the non-permanent seat in the powerful Security Council.

India''s two year term will begin on January 1, 2021.

This is the eighth time that India will sit at the UN high-table, which comprises five permanent members and 10 non-permanent members.

"Deeply grateful for the overwhelming support shown by the global community for India''s membership of the UN Security Council," the prime minister wrote on Twitter.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

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Agencies
August 5,2020

Ayodhya, Aug 5: Prime Minister Narendra Modi on Wednesday recalled the significance of the path of 'maryada' associated with Lord Ram in the backdrop of the situation created by COVID-19 and emphasised the importance of social distancing and wearing face masks.

He said that the current situation demands 'maryada' should be 'do gaz ki doori, mask hai zaroori' and exhorted everyone to follow it.

In his speech after laying the foundation stone of the Ram Temple in Ayodhya, the Prime Minister said the temple of Lord Ram will inspire and guide humans for ages to come.

He said that the path of `maryada' followed by Lord Ram is all the more necessary today in the situation created by COVID-19.

"The `maryada' (need) today is do gaj ki doori, mask hai jaroori (keep distance of two yards, wear mask). The Almighty may keep all the citizens healthy and happy, this is my prayer. The blessings of Mother Sita and Shri Ram be always there on the citizens," he said.

The Prime Minister termed the occasion as historic and said that India is starting a glorious chapter when people across the country are excited and emotional to have finally achieved what they had been waiting for centuries.

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