NEW DELHI: Facing sturdy value headwinds, the Naresh Goyal-led Jet Airways noticed its statutory dues mount to almost Rs 510 crore as on March 31, 2018, greater than doubling from Rs 239 crore all the way through the corresponding period of the previous fiscal.
The statutory dues have been virtually identical at Rs 239 crore on the end of FY16 as well. The data on dues on the end of March has been accessed from the company’s newest annual report.
Asked if the statutory dues include PF and TDS that should be transferred to the government, a Jet spokesman said, “These represent regimen statutory dues (like TDS/GST/PF, etc) that experience not fallen due for cost and are remarkable on the reporting date of March 31, 2018. These have been paid subsequently on the due dates to respective government.” The airline said the statutory dues increased at end of FY18 “basically as a result of GST”.
Asked if statutory dues had additional increased on this fiscal and what was once the amount on the end of the June quarter, the airline said it “is discharging all its statutory dues and there are not any overdues. Results for Q1 are yet to be introduced.”
The statutory dues have been virtually identical at Rs 239 crore on the end of FY16 as well. The data on dues on the end of March has been accessed from the company’s newest annual report.
Asked if the statutory dues include PF and TDS that should be transferred to the government, a Jet spokesman said, “These represent regimen statutory dues (like TDS/GST/PF, etc) that experience not fallen due for cost and are remarkable on the reporting date of March 31, 2018. These have been paid subsequently on the due dates to respective government.” The airline said the statutory dues increased at end of FY18 “basically as a result of GST”.
Asked if statutory dues had additional increased on this fiscal and what was once the amount on the end of the June quarter, the airline said it “is discharging all its statutory dues and there are not any overdues. Results for Q1 are yet to be introduced.”
Jet’s statutory dues more than double to Rs 510 cr
![Jet’s statutory dues more than double to Rs 510 cr]()
Reviewed by Kailash
on
August 14, 2018
Rating:
