Tax Notice Issue

Vedanta faces Rs 1.71 crore penalty in FY18 GST dispute over cenvat credit

Vedanta plans to challenge GST orders as it disputes penalties over transitional credit from FY18

Dabur faces Rs 4.42 cr customs penalty, vows to contest in appellate court

Dabur India faces a Rs 4.42 crore tax demand from Customs for IGST on imports from 2019-2024; the FMCG firm plans to appeal, citing strong merits for a favourable outcome

Keep interest of economy before revenue in tax notices: Revenue secy

Revenue Secretary Sanjay Malhotra on Wednesday askedI officers to nab the masterminds behind smuggling rackets, but keep the interest of the economy in mind before issuing high-pitched notices in commercial fraud cases. Addressing the 67th foundation day of the Directorate of Revenue Intelligence (DRI), Malhotra also said it is vital for the department to upgrade skills and manpower to adapt to the technology changes. He urged theI officers to focus energy on big fish and masterminds and bust syndicates in smuggling operations. However, Malhotra added that the officers have to be "very careful" while taking action against traders or businesses involved in potential commercial fraud cases. During 2023-24,I has detected duty evasion through misclassification and misdeclaration of goods, worth Rs 10,000 crore. He said there could be a technical nature of some tax demands and classification disputes rampant across the industry on some goods, which could lead to a very high-pitched dem

SC restores DRI's key powers; Rs 20K cr Customs duty recovery back on track

Setback for Vedanta, Vi, Adani Enterprises, Canon, and 104 others

Mahindra & Mahindra in Rs 10.87 crore tax dispute with I-T department

Automaker Mahindra & Mahindra has a sum of Rs 100.63 crore set aside as a contingent liability

Hindustan Unilever gets tax notice of Rs 962.75 cr over Rs 3k cr GSK deal

HUL has said that it has an 'indemnification right' to recover the demand raised by the Income Tax department

Use simpler language in tax notices, don't instil fear: FM tells officials

Finance Minister Nirmala Sitharaman on Wednesday asked tax officers to use simple language in income tax communications so that notices do not instil fear in the minds of taxpayers. Advising the income tax officers not to take "disproportionate" action and use enforcement measures only, as the last resort, Sitharaman said tax officers should use "power judiciously". "Taxpayers must not be subject to unnecessary harassment," she said, adding that tax authorities should mention the reason for sending tax notice and present their side of the story in a "crystal clear" way. "It would be better if the tax-related communication is simpler in language, becomes devoid of technical words and is not convoluted so that an average taxpayer understands what he/she needs to do or what the notice is about," Sitharaman said at the 165th Income Tax Day celebration here. Stating that tax authorities are not for instilling fear in the minds of people, Sitharaman said the department should collect wha

IIT-Delhi gets notice for Rs 120-cr GST on research funds, given 30 days

The notice demands Rs 120 crore in GST from the premier institute on research funding acquired between 2017 and 2022, as well as interest and penalties

Mahindra Holidays gets GST notice of Rs 16.77 cr for excess ITC utilisation

Mahindra Holidays & Resorts India on Wednesday said tax authorities have slapped a demand notice of about Rs 16.77 crore, including a penalty. "We wish to inform you that the company has received an Order dated August 13, 2024, from the Assistant Commissioner, Anna Salai, Chennai Central, Tamil Nadu," Mahindra Holidays & Resorts India Ltd said in a regulatory filing. The company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, it added. "The Company has received an Order from the Authority for FY2019-20 requiring the Company to pay a demand of Rs 16,76,61,092 (including a penalty of Rs 88,81,479) under applicable provisions of the TN GST Act, 2017 & CGST Act, 2017. "The Order has been passed primarily on account of GST on Other Incomes, Reverse Charge Mechanism on Other Expenses, Excess utilisation of ITC, Reversal of ITC on exempt supplies, etc.," Mahindra Holidays & Resorts India Ltd said in the filing. The ...

Zomato faces Rs 9.45 crore GST demand from Karnataka tax authorities

Food delivery platform and quick commerce company Zomato will be filing an appeal against the order

Tata Motors receives tax demand of nearly Rs 25 cr; plans to file appeal

Tata Motors Ltd on Wednesday said it has received a tax demand of nearly Rs 25 crore, including penalty and interest, from authorities on account of short payment of tax and excess availment of credit. An order was passed on April 30, 2024, by the Sales Tax Officer Class II / AVTO Ward 204, Zone 11, Delhi and it was received on May 1, 2024, by the company confirming demand on account of short payment of tax and excess availment of credit under section 73 of the CGST/ SGST Act, 2017, Tata Motors Ltd said in a regulatory filing. The tax amount is Rs 14,25,68,173 with interest of Rs 9,14,15,704 and penalty of Rs 1,42,56,815. "Company is reviewing the order and will exercise the right to file appeal," Tata Motors said, adding that there is no material impact on financial and operational activities of the company on account of this order.

Sun Pharma gets Rs 1.11 cr tax demand over disallowed input tax credit

Sun Pharmaceutical Industries Ltd on Monday said it has received a tax demand of over Rs 1.11 crore from authorities over disallowed input tax credit. The company has received an order from the Joint Commissioner, CGST and Central Excise, passed under the GST Act, raising a demand of Rs 1,11,60,156, imposing a penalty of Rs 11,16,016 and interest as applicable, Sun Pharmaceutical Industries said in a regulatory filing. The reason for the order is disallowed input tax credit on account of inadmissible transitional credit, it added. "There is no material impact on financial, operation or other activities of the company," the filing said.

LIC receives Rs 806 crore tax notice for FY18 from Mumbai state tax office

In October 2023, LIC had filed an appeal with the Bombay High Court against the Income Tax Appellate Tribunal's decision to give the insurer relief in two tax disputes amounting to Rs 4,993 crore

Bata India receives Rs 60 crore notice from sales tax authorities

Footwear major Bata India has received a notice from the State Tax Officer, Anna Salai Assessment Circle, Chennai, amounting to Rs 60.56 crore, the company said in a filing to the bourses on Thursday. The notice dated December 27, 2023, pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to the filing. The issues raised include differences in turnover on outward supplies in the monthly GST returns, differences in tax on outward supplies in the GSTR-9 & GSTR-9C returns, excess Input Tax Credit (ITC) availed, and ITC Reversal on credit note. The company said it initially received an audit notice on April 27, 2023, and submitted relevant documents in response. Bata India was given a personal hearing on January 10, 2024, to present its case and provide further information on the disputed issues, as per the filing. The company expressed confidence in its ability to defend the case before the authorities concerned. "It is

Tyre manufacture Ceat gets Rs 1.98 crore GST notice, company to file appeal

Tyre maker CEAT Ltd on Thursday said it has received a demand notice of Rs 1.98 crore for GST, along with a penalty from the Additional Commissioner, CGST, and Central Excise. The demand pertains to the disallowance of transitional credit and Trans2 credit under the applicable provisions of the CGST Act, 2017, the company said in a regulatory filing. The Additional Commissioner, CGST & Central Excise, Vadodara-II, issued the order for a demand of Rs 1.80 crore, along with a penalty of Rs 18 lakh, it added. "The company is in the process of analysing the matter and taking appropriate action for an appeal to be filed with the appellate authority," CEAT Ltd said. On the impact on financial, operation or other activities of the company quantifiable in monetary terms to the extent possible, CEAT said, "(It is) not ascertainable at this stage.

Tax troubles: 80 online gaming companies likely to face GST evasion notice

Evasion by companies may be to the tune of up to Rs 12,000 crore

Taxing times: Income tax heat on start-ups over unexplained funds

Notices issued to check round-tripping

NRN Murthy's Cloudtail gets tax notice of Rs 54.5 crore, says report

Cloudtail, one of the largest sellers on Amazon India, is owned by Prione Business Services

Flurry of tax notices puts private companies' directors in a spot of bother

Section 179 of the Income Tax Act imposes vicarious liability on directors to recover tax dues of private firms

Got assurance on resolution of tax notice issue: Nasscom

During the meeting, the apex software body also discussed issues related to Place of Effective Management (POEM) and refund of service tax, amongst others