The Central Board of Excise and Customs(CBEC) on Friday said that it has frozen the bank accounts of Kingfisher Airlines for its failure to pay service tax arrears.
"They were paying Rs 1 crore per day. For past few days there has been an interruption. They have not been able to pay, so we have frozen their accounts 2-3 days ago by issuing a letter to the bank," said CBEC Chairman S K Goel as per a PTI report..
The airlines, he further said, had an outstanding indirect tax arrears of Rs 70 crore and about Rs 35 crore is still due from them.
Kingfisher Airlines has run into financial problems and has suffered losses of over Rs 1,000 crore during the nine-month period ending December 2011.
» Read Complete News.....(You need to login first to read complete news). New User? Register for FREE!
» Back to Travel News