GST notices round-up – money control

Life Insurance Corporation of India

The Life Insurance Corporation of India received a GST notice of Rs 806.3 crore for various compliance flaws. The notice was served by the Maharashtra deputy commissioner of tax for the period of FY 2017-18. LIC will file an appeal against the order, and the company said there would be no material impact on financials or operations of the company.

On December 11, 2023, LIC was served a GST notice worth Rs 183 crore from the Telangana arm of the taxation authority. In October, LIC was hit with a GST notice by the state taxes officer at Srinagar, imposing a fine of Rs 36,844 crore for lower payment of taxes.

Hindustan Unilever (HUL)

Hindustan Unilever (HUL), which owns brands such as Lux, Lifebuoy, Surf Excel, Rin, Pond’s, and Dove, has received a GST notice totaling Rs 447.5 crore from the authorities. HUL plans to appeal these orders.

“The Orders were received by the company on 30th December, 2023 and 31st December, 2023, respectively and the intimation is being submitted today i.e. 1st January, 2024, being the first working day after receipt of the Orders,” said HUL.

Zomato and Swiggy

Zomato and Swiggy were served with GST notices for Rs 400 crore and Rs 350 crore, respectively. The GST amount was based on the delivery fee the two companies collect for each order.

A Religare Enterprises

A Religare Enterprises subsidiary was issued a GST demand of Rs 39.51 crore from Central Excise Commissionerate, Chandigarh. The order, issued under the Central Goods and Services Tax Act, entails a tax demand of Rs 35.92 crore. A penalty of Rs 3.59 crore and applicable interest were added to it.

Kotak Mahindra Bank

Kotak Mahindra Bank received a GST notice for Rs 57.20 lakh, and a penalty of Rs 5.1 lakh from the assistant commissioner of central goods and service tax.

Zydus Wellness

Zydus Wellness received a GST notice from the Office of Assistant Commissioner of GST, Telangana totaling Rs 1,80,748.

Nestle India

Nestle India has received a notice for Rs 46.4 crore and penalty amounting to Rs 4.65 crore by the Office of the Commissioner of GST & Central Excise, Chennai.

Source: moneycontrol