MAHESH BABU TAX CONTROVERSY - OFFICIAL STATEMENT!

Recently, accusations were piled up against Tollywood actor Mahesh Babu, for not filing his taxes and his account was freezed. Amidst this controversy, the actor has clarified about the issue from his side. 

A statement from his side read: 

"The GST Commissionerate Hyderabad has attached the bank accounts for a disputed tax demand of Rs 18.5 lakhs claiming Rs 73.5 lakhs towards Tax interest and penalty for brand ambassador services rendered in FY 2007-08 which was not taxable service. The brand ambassador services was brought in the statute by insertion of section 65(105) with effect from 1-7-2010.

The GST Commissionerate Hyderabad has carried out the attachment without notice when several judicial pronouncements on this issue is in favour of the taxpayer and more so when the dispute is pending before the High Court. Mr. Mahesh Babu is a law abiding citizen complying with all fiscal legislations and has no undisputed tax payable."