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133 companies owe over Rs3,39,704 crore to exchequer: Arun Jaitley

LiveMint logoLiveMint 25-07-2017 PTI

New Delhi: A total of 133 companies with outstanding dues of Rs500 crore or more under direct and indirect taxes owed over Rs3,39,704 crore approximately to the exchequer as on 31 March 2017, the government said on Tuesday.

In a written reply to the Rajya Sabha, finance minister Arun Jaitley said, “The number of companies with outstanding corporate tax dues of Rs500 crore or more is 132 as on March 31, 2017, involving total dues of Rs3,38,098 crore.” Jaitley further said there is one case of service tax in which the amount due is Rs1,606.26 crore (and an equal amount of penalty).

The minister, however, added that out of the outstanding corporate dues, Rs2,45,480 crore were not realizable. Elaborating, Jaitley said the outstanding corporate dues not realizable include demand covered by stay (Rs1,20,604 crore), no asset or inadequate assets for recovery (Rs84,469 crore) and company under liquidation (Rs30,532 crore), among others.

The higher value cases are monitored regularly and all possible steps are being taken for speedy recovery, he added.

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