Business

Several major corporations appeal against GST demand notices with Appellate Authority

In response to a surge in GST demand notices, many large companies, such as ICICI Lombard, Vodafone Idea, Bombay Dyeing, HDFC Life Insurance, and Rallis India, have decided to file appeals with the Appellate Authority. These notices have been mainly issued due to alleged discrepancies in input tax credit.

ICICI Lombard General Insurance Company Limited received a GST demand notice of Rs 14,786,059 and a penalty of Rs 1,478,606 from the Hyderabad GST Commissionerate. The company intends to appeal the decision and explore other legal options.

Vodafone Idea confirmed a penalty of Rs 14,82,096 along with tax demand and interest for alleged excess ITC utilization in FY 2018-19. The company plans to take appropriate action for rectification of the order.

Bombay Dyeing faced a demand of Rs 95,68,375 due to discrepancies in input tax credit claimed and tax payments. The company stated its intention to file an appeal as the ITC claimed aligns with the law.

HDFC Life Insurance received a GST order related to erstwhile Exide Life Insurance Company Limited with no adverse financial impact. The company will contest the order through an appeal with the Appellate Authority.

Rallis India faced four orders dismissing appeals filed for business activity classification and dues amounting to Rs 5.01 crore. The company plans to appeal these orders based on the merits of the matter and legal advice to seek a favorable outcome.

IANS

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