Update in Indirect Tax
Laws # 5:
Yuvraj Singh gets
service tax notice: The Central Excise Department had
issued a show cause notice to cricketer Yuvraj Singh, seeking payment of
service tax to the tune of Rs 46.60 lakhs on his income from promotional
activity. The tax demand was raised on the payment of Rs 4.14 Crores which
Yuvraj Singh received from Sahara Adventure Sports for carrying out promotional
activity, as clarified by the Central Excise Officials. However, he had already
paid Rs 36 lakhs as service tax and the balance is to be paid as per the terms
of the said notice. [Source: Page J181
Volume 34: Part 5 of STR – RK Jain] [Next Batch for CA Final IDT - Nov 2014 attempt starts on 11th Aug 2014]
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