The notice issued by the Deputy Commissioner of State Tax, Maharashtra was over reversal of Input tax credit, mismatch in ITC/credit note as per GSTR 3B, GSTR 9, and GSTR 2A and non-payment of tax of certain outward supplies.
Mumbai: Private insurer ICICI Prudential Life Insurance on Tuesday said that it has received a GST demand notice (with interest and penalties) worth up to Rs 429 crore.
The insurer said that it would file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines.The total demand comprised GST of Rs 208.02 crore, interest of Rs 200.2 crore and penalty of Rs 20.8 crore.
The notice issued by the Deputy Commissioner of State Tax, Maharashtra was over reversal of Input tax credit, mismatch in ITC/credit note as per GSTR 3B, GSTR 9, and GSTR 2A and non-payment of tax of certain outward supplies.
( Source : Deccan Chronicle )
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