Tax payment schedule worked out: Jet Airways

Jet Airways today said it has mutually agreed with tax authorities on a payment schedule for the pending service tax dues. Denying reports that its bank accounts have been attached, Jet said it will pay Rs 35 crore due in Service Taxes in two days. Click here for Cloud Computing Also Read Related Stories News Now - Disruption in flight schedules being sorted out: Mallya - Service tax dept seeks IATA's help to recover dues from Jet Airways - Pilots' no-show grounds more Kingfisher flights - Jet Airways says bank accounts not frozen - UPDATE: Revenue Dept freezes accounts of Jet Airways - New DGCA rules may see Jet cutting flights "Jet Airways would like to further confirm that as per the mutually accepted payment schedule an amount of Rs 35 crore has already been received by the service tax department, and the balance Rs 35 crore will be paid in full on March 15, 2012," it said in a statement. The nation's largest private carrier said a "payment schedule has been mutually worked out and accepted together with the tax authorities and at no point in time the airline's accounts have been frozen." The airline added that the service tax department had been in touch with International Air Transport Association (IATA) with regard to having their proceeds remitted, when the collections are remitted to Jet Airways. In a statement from Singapore, an IATA official had yesterday said, "the Indian tax authority had served IATA with a garnishment for the amounts owed to the tax authorities by Jet Airways." Garnishment is a warning served on a third party to hold money or property belonging to a debtor who is being sued or prosecuted by a creditor.