Delhi-based oil and gas exploration service provider firm, Shiv Vani Oil and Gas Exploration Services has reportedly evaded service tax of about Rs 200 crore, after Directorate General of Central Excise Intelligence conducted 'survey' in the premises of the company in the national capital earlier this month and registered a case of alleged service tax evasion.
During the survey, the officials found that the company had not filed its mandatory service tax returns or ST-3 form with the government since October 2010. Moreover, it is also reported that the company post the department's action, has submitted a post dated cheques of Rs 150 crore towards their past service tax liability. Of these cheques, the revenue department has already realized Rs 5 crore as service tax to the government exchequer.
Shiv Vani Oil and Gas Exploration provide services related to exploration and exploitation of oil and gas to its clients including Oil and Natural Gas Corporation (ONGC) and Oil India, among others.
