Tiger Logistics India Limited Secures Positive Outcome in Service Tax Matter

Tiger Logistics (India) Limited, a BSE-listed international logistics company, is pleased to announce that following our previous intimations dated 14thJuly 2023 and10th February 2022, we have received a positive ruling in our favour.

As communicated earlier, vide Order-in-Original dated 18.11.2021, the Commissioner, CX & GST, Delhi East, confirmed a demand of Service Tax amounting to Rs. 5,65,06,356/- in respect of the markup/differential freight in the sale of space for export cargo, container detention charges, toll tax and other services provided.

On ROM Application filed against the above order, vide Order-in-Original dated 19.10.2022, the Commissioner accepted the fact of an amount of Rs. 2,64,78,835/- having already been paid towards the Service Tax on services provided and ordered for appropriation of the same against the demand confirmed.

Vide Final Order dated 12.07.2023, CESTAT set aside the demand of service tax on the markup/differential freight, container detention charges and toll tax. However, the issue of re-quantification of the demand for service tax on the services provided on account of non-consideration by the Commissioner of the abatement claimed was remanded by CESTAT to the Commissioner. Now vide Order-in-Original dated 27.03.2024, the Commissioner has accepted our claim for abatement and re-quantified the demand of service tax to the amount which was already paid.

With this order, the issue now stands concluded in favour of the Company.

Commenting on the favourable outcome, Mr. Harpreet Singh Malhotra, MD of Tiger Logistics(India) Limited said, "I am happy to share that we have recently received a favourable ruling from the CESTAT appellate authority regarding service tax demands raised by the department. This ruling signifies a significant win for our company and underscores our steadfast commitment to compliance and integrity. The ruling encompasses a demand for service tax, interest, and a penalty, which we have already addressed through timely payment.

Additionally, we have been granted an abatement benefit, resulting in the cancellation of our service tax liability. This outcome reflects our dedication to upholding the highest standards of corporate governance, and we sincerely appreciate your ongoing support."

Source : Equity Bulls

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