Courier firm goes bust owing $1.2 million

A Christchurch courier company has buckled under financial pressure, owing creditors more than $1.2 million and leaving staff out of pocket. NJ & MS Holdings Ltd owes about $586,000 to Inland Revenue (IRD) and just over $632,000 to unsecured creditors, while staff claims are nearly $35,000. The company, trading as Point to Point, was placed…

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CESTAT Abates Service Tax Appeal against Vasan Dental Hospitals since Company is Undergoing Liquidation [Read Order]

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has abated the Service Tax appeal filed by the Department, noting that the company is under liquidation and no application for continuance has been made by the official liquidator. The assessee-respondent, Vasan Dental Hospitals Private Limited, was engaged in providing dental related…