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LIC: LIC gets GST demand notice of Rs 663 crore - The Economic Times

LIC disclosed receiving a demand notice of approximately Rs 663.45 crore from tax authorities for GST shortfall. The notice cites wrong Input Tax Credit (ITC) claims and incorrect tax declaration in GSTR-1 for 2017-18 and 2018-19. LIC plans to appeal against the order within specified timelines. Another demand order for around Rs 116 crore was received for Telangana, following an earlier notice for about Rs 806 crore, including interest and penalties for Maharashtra, both concerning GST underpayment in 2017-18. ....

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Asian Paints gets GST demand notice of Rs 13.83 crore, Retail News, ET Retail

The demand is for the financial year 2017-18 over mismatch on input tax credit (ITC), the leading paints maker said in a regulatory filing. "The company has a strong case based on merits and will be filing rectification and/or appeal against the said order within the prescribed timelines," it added. Asian Paints further said it has discharged applicable taxes on the outward supplies made by the company and has also fulfilled all the conditions prescribed for availing of the ITC. ....

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LIC gets GST demand notice of Rs 116 crore

The corporation shall file an appeal before Joint Commissioner (ST), Hyderabad Rural Division against the said order within the prescribed timelines, LIC said. ....

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Asian Paints: Asian Paints gets GST demand notice of Rs 13.83 crore

India Business News: NEW DELHI: Asian Paints on Monday informed that it has received a GST demand notice of Rs 13. ....

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LIC: LIC gets Rs 806-crore GST demand notice - The Economic Times

Life Insurance Corporation of India (LIC) received a demand notice of about Rs 806 crore for alleged short payment of GST for 2017-18. LIC has received a communication/demand order on Monday for collection of GST along with interest and penalty for Maharashtra state, the insurer said in a regulatory filing. ....

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