After receiving GST demand notifications, a number of sizable businesses have made the decision to appeal to the Appellate Authority. Recently, a growing number of businesses have received GST notifications, mostly due to purported differences in input tax credit (ITC).
Commissionerate, issued an order to ICICI Lombard General Insurance Company Limited, citing a demand for GST of Rs 14,786,059 and imposing a penalty of Rs 1,478,606.
"The company would consider other legal options in opposition to the order and pursue an appeal with the Appellate Authorities," ICICI Lombard stated.
The demand was imposed by the order based on the calculation of the company's eligible input tax credit and the possibility of an undischarged tax burden resulting from discrepancies in the company's filed forms.
According to Vodafone Idea, it received an order under the Central Goods and Services Tax Act, 2017, verifying a Rs 14,82,096 penalty, together with the corresponding tax demand and interest. For the alleged use and utilization of surplus ITC for FY 2018–19, an order has been issued.
Vodafone Idea stated, "The company disapproves of the order and will take appropriate action for rectification or reversal of the same." As per Bombay Dyeing, the company received a demand for Rs 95,68,375 from the Excise and Taxation Officer in Gurugram.
The order was issued because there was a discrepancy between the input tax credit claimed on the books and the GST portal, there was insufficient tax paid in GSTR-3B, and there was insufficient tax paid under RCM in comparison to GSTR2A and GSTR-3B. stated Bombay Dyeing.
"We intend to submit an appeal with the Appellate Authority, as the ITC has said that the books comply with legal requirements. The company's financial operations are unaffected in a significant way, according to Bombay Dyeing.
On April 10, HDFC Life Insurance claimed it received a GST order regarding the former Exide Life Insurance Company Limited from the Deputy Commissioner State Tax, Dehradun.
HDFC Life stated, "This order will not have an adverse material impact on the company's financial operations, and the company will further contest the same by way of an appeal before the Appellate Authority."
The Tata enterprise Rallis India reported that it had received four orders from the Joint Commissioner of Sales Tax (Appeals), Nagpur division, dismissing the appeals that had been filed with it regarding the classification of business activities and the outstanding amounts under the Bombay Sales Tax Act and Central Sales Tax Act for the financial years 2000–2001 and 1999–2000, totaling Rs5.01 crore, including interest and penalties.
Rallis India stated, "The company plans to appeal against these orders before the Appellant Authority expecting favorable orders from the authorities based on the merits of the matter, prevailing law, and the advice of the counsel."
