One more ‘Excise’ shock to Telugu States!

Income Tax department had just dug out 1274 Crore from Telangana’s RBI account as Income Tax arrears. Telangana government is fighting out the issue in high court as the move has caused severe financial crisis in the state.

[m9ad]

On the other side, Service Tax officials have raided Beverages Corporation office in Nampally and decided that the corporation is pending 900 Crores of service tax. 500 Crores service tax arrears belong to the United State from 2012 and the remaining 400 Crores is after the bifurcation.

Both the governments are now fearing that Central excise department will be recovering the amount all of sudden. Both the states are already in financial crunch, any sudden recovery will only double their problems.