The finance ministry has declined to intervene in a plea for relief made by the insurance industry, which is facing penal action from tax authorities for goods and services tax (GST) input tax credit violations. The ministry has referred the matter to the Insurance Regulatory and Development Authority of India (Irdai), said people with knowledge of the matter. Officials peg the alleged tax evasion at over ₹2,000 crore.
Source a2ztaxcorp
Latest Posts in "India"
- VAT Pre-Deposit Refund Must Be Paid in Cash Under GST, Rules Madras High Court
- Karnataka High Court: Limitation for GST Refund Mandatory, Delay Condonable Under Writ Jurisdiction
- Karnataka High Court: GST Refund Limitation Mandatory, Delay Condonable Under Writ Jurisdiction
- GST Refund Limitation is Mandatory, but High Courts Can Condon Delay in Genuine Hardship Cases
- DGFT Tightens Certificates of Origin Rules, Mandates Automated Verification and Authorised Issuance
