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Jet Airways clarifies on Jetlite Rs 100 crore tax notice
Mumbai, Jun 18 (UNI) Jet Airways today clarified that it was extending full cooperation to the Director General of Central Excise Intelligence, with regards to alleged non-payment of service tax by Sahara Airlines, which had been acquired by it.
With reference to a report in a section of the press about Jetlite getting Rs 100 crore Tax notice, the airliner, in a filing to the BSE said the inquiry by DG Central Excise Intelligence is related to a period(s) prior to the acquisition of Sahara Airlines Ltd by Jet Airways (India) Ltd on April 20, 2007.
As per the provisions of the Agreements relating to the above transaction, the liabilty, if any, for the above tax demands, in respect of which the investigations were currently in progress, rests with the earlier owners of Sahara Airlines Ltd, that is the ''Selling Shareholders'', according to the airliner.
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