 "Varun Shipping yet to pay Rs 7 crore due to service tax dept")
The Service tax department today said that Varun Shipping Co. Ltd in the current year, have not paid dues of about Rs 7 crores to the service tax department.
They were given instalment payment in the month of July to pay the dues in instalment starting from August 6 to be fully paid by October 6. However, they defaulted in the payment, the service tax department said in a press release.
The service tax department have ordered for their bank accounts with Bank of Baroda and Yes Bank to be frozen. Further, as per the Service Tax Law, service tax dues can be recovered from the debtors (customers) of defaulter. Therefore, the department has also written to HPCL, BPCL & IOC who are their major customers to pay the money which they owe to Varun Shipping Co. Ltd.