Service Tax demand of Rs 29 Crore issued to KPMG Entities

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Service Tax demand of Rs 29 Crore issued to KPMG Entities

AIT News Network

NEW DELHI. Delhi Service Tax Commissionerate has issued Show Cause Notices demanding Service Tax amounting to Rs.29 Crores against KPMG group of Entities. The entities who have been issued demands include KPMG (Partnership firm) , KPMG Advisory Services (Private) Limited , KPMG (India) Private Limited, KPMG Resource Centre (Private) Limited , BSR and Co. and BSR and Associates.

The demand Notices have been issued on Foreign remittances made to entities abroad in respect of taxable services received by them which include “Out of Pocket Expenses” billed by them, services wrongly claimed as Export of services ,Regulatory Services and Membership Fee.

KPMG entities have already deposited Service Tax amounting to Rs.4.38 Crores and interest of Rs.42 Lacs for the period since 16.6.2005 to 31.03.2007.

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