For the same, the company faces a GST demand of Rs 492.06 crore along with an equal penalty of Rs 492.06 crore, making it Rs 984.12 crore, excluding interest.

Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, ...

The High Court ruled that buyers are not legally required to reverse ITC merely due to seller-issued discount credit notes. Rectification of GST returns was allowed where tax paid exceeded proposed ...

Budget 2026 proposes easing valuation rules for post-sale discounts, but existing Section 15(3)(b) conditions continue to apply until ...