Many large companies to move Appellate Authority against GST demand notices

New Delhi, April 11, 2024
Many large companies that have received GST demand notices have decided to file an appeal with the Appellate Authority.

In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).

ICICI Lombard General Insurance Company Limited said it received an order from the Additional Commissioner, Customs & Central Tax, Hyderabad GST Commissionerate, raising a GST demand of Rs 14,786,059 and levying penalty of Rs 1,478,606.

“The company would pursue an appeal with the Appellate Authorities and evaluate other legal options against the order,” ICICI Lombard said.

The order has imposed the demand on the grounds of computation of input tax credit eligible to the company and alleged undischarged tax liability due to differences between the returns filed by the company.

Source : https://yespunjab.com/many-large-companies-to-move-appellate-authority-against-gst-demand-notices/