Telugu superstar Mahesh Babu on Friday clarified that he has no undisputed tax payable and that he is a law abiding citizen complying with all fiscal legislation.
The legal team of the actor released the statement a day after the Goods and Service Tax (GST) commissionerate, Hyderabad attached his two bank accounts for failing to pay service tax of Rs 18.5 lakh for the financial year 2007-08.
According to the commissionerate, the accounts were seized to retrieve Rs 73.5 lakh including interest and penalty.
A statement from Mahesh Babu's team said the GST commissionerate attached the bank accounts for a disputed tax demand of Rs 18.5 lakh claiming Rs 73.5 lakh towards tax interest and the penalty for brand ambassador services rendered during 2007-08.
The actor pointed out that the brand ambassador services were not taxable as the same were brought in the statute book only in 2010.
"The GST commissionerate, Hyderabad has carried out the attachment without notice when several judicial pronouncements on this issue are in favour of the taxpayer and more so when the dispute is pending before the high court," said the statement from Mahesh Babu's team.
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