LTIMindtree gets GST demand order of Rs.155.7 crore for FY19
Indian IT services company LTIMindtree Ltd on Monday (May 6) said it has received an order under Section 73 of the Maharashtra Goods & Services Tax Act, 2017, demanding a sum of Rs.155.7 crore.
This amount includes a penalty of Rs.7.1 crore, alongside accrued interest, pertaining to the fiscal year 2018-19. The order comes from the Department of Goods and Service Tax, Office of the Deputy Commissioner of State Tax, Mumbai.
The order primarily revolves around alleged violations related to zero-rated supplies, resulting in the imposition of taxes and the reversal of input tax credits.
Specifically, the authorities contend that the company's actions led to the demand for output integrated goods and services tax (IGST) or the proportional reversal of input tax credit (ITC), as well as the rejection of previously granted refunds.
