IndusInd Bank share price declined more than 5% on Tuesday, after the private lender informed that the GST authorities in Thane district have imposed a penalty of over ₹30.15 crore for various issues.
The private insurer Star Health and Allied Insurance Co Ltd has been slapped with 25 tax demand orders across its zonal offices in Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana and Karnataka of Rs 49 crores including penalties by the Goods & Services Tax (GST) and Central Excise authorities.
Janapati Venkateswarlu, a daily wage labourer from Chundrugonda, was left stunned after receiving a demand notice from the Vijayawada Commercial Tax Office for unpaid GST dues amounting to Rs 22.8 lakh. The notice, a DRC-7 dated March 4, was delivered to his home at 4-14 Temple Street, Chandrugonda, in the district.
Private starts-ups and other MSMEs are receiving notices to pay 18 per cent taxes under the CGST Act on funding received from the Ministry of Defence for research and development (R&D). Government officials say this amounts to “taxing innovation” as it disincentivises Prime Minister Narendra Modi’s focus on ‘aatmanirbharta’ in the military sector.
South Korean automaker’s Indian arm, Hyundai Motor India Limited, received two goods and service tax (GST) notices from the Government of Tamil Nadu and the Government of Maharashtra, amounting to nearly 16 crore, according to an exchange filing on Friday, February 28.
The shares of Indian Overseas Bank (IOB) slipped 4.4% to an intraday low of Rs 41.63 on the BSE on Monday, March 3, after the company announced that it had received a GST notice from the Deputy Commissioner (ST)-III, Large Taxpayers Unit, Chennai-35 for Rs 699.52 crore.
Life Insurance Corporation of India (LIC) announced on Monday that it has received a demand notice of approximately Rs 57.2 crore from the tax authorities for excess Input Tax Credit (ITC) availed during the financial year 2020-21. The communication, issued by the Assistant Commissioner in Delhi, addresses the alleged excess ITC claimed by the company.
The Goods & Service Tax Department (GST) has issued notices to top international schools and private universities in Ahmedabad to pay a total of ₹15 crore under the Reverse Charge Mechanism.
Pani puri is one of the most popular street in India, which always reminds us of crowded street corners and the crunch of puris filled with spicy water and yummy fillings. These days, the Puris can be filled with so many exciting flavours to choose from! But what happens when a beloved ‘pani puri wale bhaiyya’ suddenly finds himselves in the spotlight for reasons beyond their delicious golgappas?
The Goods and Services Tax Department of Gautam Buddh Nagar has issued notices to 43 project developers of Noida and Greater Noida asking them to submit tax worth Rs 580 crore on the lease premium of their projects, officials said on Saturday.
