Quick Summary
Maharashtra Deputy Commissioner of State Tax has issued a GST demand notice of Rs 429 crore to ICICI Prudential on Tuesday disclosed the company on the stock exchange on Wednesday. Most of the actual amounts has to definitely be paid by the company; however, the company will appeal against the GST demand notice before the Commissioner (Appeals) within the standard timelines, it stated. In addition to GST demand, previously, the notice also has interest and penalty, the filing after market excha
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FAQ :
The GST demand notice issued to ICICI Prudential amounts to Rs 429 crore.
The GST demand notice relates to the financial year 2020.
The reasons include reversal of input tax credit, differences in ITC/credit notes for GSTR 3B, GSTR 9 and GSTR 2A, and non-payment of tax on some outward supplies.
ICICI Prudential plans to appeal the GST demand notice before the Commissioner (Appeals) within the standard timelines.
The notice was issued by the Maharashtra Deputy Commissioner of State Tax.
No, reports indicate that GST authorities have started serving notices to several corporate companies across the country.
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