Stay updated
Vedanta Ltd on April 16 said it has received a GST penalty order of Rs.27.97 crore for the period of FY 2018-19 to FY 2020-21. The penalty stems from a dispute regarding Input Tax Credit reconciliations spanning the financial years 2018-19 to 2020-21.
Many large companies that have received GST demand notices have decided to file an appeal with the Appellate Authority.
Asian Paints on Monday informed that it has received a GST demand notice of Rs. 13.83 crore and a penalty of Rs. 1.38 crore from the Deputy Commissioner of State Tax, Chennai. The demand is for the financial year 2017-18 over mismatch…
GSTN Rolls Out Automated Intimation Feature for ITC Discrepancies: Form GST DRC-01C Now Active on GST portal
14/11/2023 Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-3B Dear Taxpayers, 1. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer…
Businesses might receive intimation from indirect tax authorities if there is a mismatch of input tax credit claimed by them with the output tax liability as declared by the supplier. They could even be asked to pay an amount equal…