New Delhi: Many giant firms which have acquired GST demand notices have determined to file an enchantment with the Appellate Authority.
In latest days, an rising variety of GST notices have been despatched to many firms primarily on account of alleged discrepancy in enter tax credit score (ITC).
ICICI Lombard Common Insurance coverage Firm Restricted mentioned it acquired an order from the Extra Commissioner, Customs & Central Tax, Hyderabad GST Commissionerate, elevating a GST demand of Rs 14,786,059 and levying penalty of Rs 1,478,606.
“The corporate would pursue an enchantment with the Appellate Authorities and consider different authorized choices towards the order,” ICICI Lombard mentioned.
The order has imposed the demand on the grounds of computation of enter tax credit score eligible to the corporate and alleged undischarged tax legal responsibility resulting from variations between the returns filed by the corporate.
Vodafone Concept mentioned it acquired an order beneath the Central Items and Providers Tax Act, 2017, confirming a penalty of Rs 14,82,096 together with tax demand and curiosity as relevant. The order has been issued for the alleged availment and utilisation of extra ITC for FY 2018-19.
“The corporate doesn’t agree with the order and can take applicable motion for rectification or reversal of the identical,” Vodafone Concept mentioned.
Bombay Dyeing mentioned it acquired an order from the Excise and Taxation Officer, Gurugram, for a requirement of Rs 95,68,375.
The order was issued for mismatch in enter tax credit score claimed as per the books and as per the GST portal, quick cost of tax in GSTR-3B, and quick cost of tax beneath RCM as in comparison with GSTR2A and GSTR-3B, Bombay Dyeing mentioned.
“We’ll file an enchantment earlier than Appellate Authority because the ITC claimed as per the books are in accordance with the legislation. There is no such thing as a materials impression on the monetary operations of the corporate,” Bombay Dyeing mentioned.
HDFC Life Insurance coverage mentioned the corporate acquired a GST order from the Deputy Commissioner State Tax, Dehradun, within the matter of erstwhile Exide Life Insurance coverage Firm Restricted on April 10.
“This order may have no antagonistic materials impression on the monetary operations of the corporate and the identical shall be additional contested by the corporate by means of an enchantment earlier than the Appellate Authority,” HDFC Life mentioned.
Rallis India, a Tata enterprise, mentioned the corporate acquired 4 orders from the Joint Commissioner of Gross sales Tax (Appeals), Nagpur division, dismissing the appeals filed earlier than it for classification of enterprise actions, and dues aggregating to Rs 5.01 crore, together with curiosity and penalty, beneath the Bombay Gross sales Tax Act and Central Gross sales Tax Act for the monetary years 1999-2000 and 2000-2001.
“Primarily based on the deserves of the matter, prevailing legislation, and the recommendation of the counsel, the corporate is planning to enchantment towards these orders earlier than the Appellant Authority anticipating beneficial orders from the authorities,” Rallis India mentioned.
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