Life Insurance Corporation of India (LIC) has received an order from Bihar Additional Commissioner State Tax demanding Rs 290 crore in goods and service tax, along with interest and penalty. LIC intends to file an appeal before the GST Appellate Tribunal against the order, which claims that LIC did not reverse the input tax credit availed and utilized on certain items.
from Banking/Finance-Industry-Economic Times https://ift.tt/xyG1Hwt
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