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No Finding Received on Rs 30 Crore Service Tax Evasion Charge: DLF

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No Finding Received on Rs 30 Crore Service Tax Evasion Charge: DLF
New Delhi: DLF, India's largest realty firm, on Tuesday said it has not received any findings from authorities on alleged service tax evasion of about Rs 30 crore.

The company was responding to clarification sought by National Stock Exchange (NSE) on reports that the real estate firm has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.

"DLF and its associates pay a total service tax of more than Rs 500 crore per annum to the government of India and there is no question of evading service tax of Rs 30 crore across multiple years...," DLF said in a filing to the BSE.

"We would also like to point out that we have so far not received any findings or observations from any wing of the Service Tax Department" with reference to this matter," the filing noted.

DLF said industry players have sought clarification with the tax authorities on the issue of service tax on development rights.

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Since development rights are a part of immovable property, it is not subject to service tax, DLF added.

A case against DLF has been registered by the Directorate General of Central Excise Intelligence (DGCEI) for alleged non -payment of service tax over transfer of development rights to other firms, official sources had said. (Read more)

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