Sunday, June 29, 2014

Yuvraj Singh gets Service Tax Demand Notice

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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