LIC Gets GST Demand Notice Of Rs 605.58 Crore

Life Insurance Corporation of India (LIC) on Thursday said tax authorities have slapped a demand notice of about Rs 605.58 crore on it for short payment of Goods and Services Tax (GST) for financial year 2019-20.

Online food delivery platform Zomato has received GST tax demand orders of over Rs 4.59 crore, including applicable interest and penalty, from Tamil Nadu and West Bengal authorities.

SBI Life on Thursday said tax authorities have slapped a demand notice of about Rs 239.27 crore on it for short payment of Goods and Services Tax (GST) for the financial year 2019-20.

Bihar Deputy Chief Minister Samrat Chaudhary was appointed as the convenor of the Group of Ministers on GST rate rationalisation.

The Information & Broadcasting (I&B) Ministry has urged the Ministry of Finance to either exempt the GST on digital news subscriptions or reduce it to five per cent.

A rogue tax officer, a trio of lawyers and a few other people masterminded a fraud, swindling Rs 54 crore from the Goods and Service Tax (GST) Department in the national capital.

Union finance minister Nirmala Sitharaman, targetted by her critics over the 18 per cent GST on life and medical insurance premiums, retorted today that leaders having objection should first have consulted their state finance ministers.

Binance, facing a GST payment of Rs. 772 crore in India, has promised to comply with local authorities. However, the company has yet to provide further details regarding its situation with the DGGI.

Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.

West Bengal Chief Minister Mamata Banerjee has urged the BJP-led central government to withdraw GST on life and medical insurance premiums, saying that it adversely affects people's ability to take care of their vital needs.

Tax officials may issue notices soon to more major infotech services firms in a scrutiny of alleged evasion of tax on services by their overseas offices, a government source said, a day after Infosys was slapped with a $4-billion tax demand.

Apex IT association Nasscom on Thursday came out in support of Infosys -- which is facing a Rs 32,403 crore GST notice, saying that the move reflected a lack of understanding of the industry's operating model.

IT services company Infosys has been issued a pre-show cause notice for alleged goods and services tax (GST) evasion up to Rs 32,403 crore.

Amid criticism of Budget 2024 from several quarters, Union Minister and senior BJP leader Nitin Gadkari has written to Finance Minister Nirmala Sitharaman, requesting her to withdraw the GST imposed on premiums for life and medical insurance plans.