Reliance General Insurance Company (RGIC) has received multiple show cause notices from the Directorate General of GST Intelligence, amounting to Rs 922.58 crore. The notices are for GST demands on revenue generated from services like re-insurance and co-insurance. The company's auditors will have to provide for this amount as a contingent liability in its quarterly results. RGIC constitutes 70% of the total value of Reliance Capital, which is currently undergoing a debt resolution process.
from Banking/Finance-Industry-Economic Times https://ift.tt/9ELydUW
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