The Directorate General of Central Excise Intelligence (DGCEI) has issued Rs 4.6-crore tax notice to the Indian Oil Corporation (IOC) for not paying service tax under the head of a goods transport agency.
IOC has not been paying their tax properly as a goods transport agency by not including toll charges paid to its transporters as actual expenses in the taxable value between October 2008 and September 2013.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
No comments:
Post a Comment