Bajaj Allianz faces ₹1,010 crore GST demand notice. Know details
₹1,010 crore on Tuesday. It received the show cause cum demand notice from the Directorate of GST Intelligence for the non-payment of GST on co-insurance and re-insurance premiums, said Bajaj Finserv in its stock exchange filing on Tuesday.
The company is expected to file appropriate response to the said Show Cause Cum Demand Notice within the prescribed timelines. “Bajaj Allianz General Insurance Company Limited (“BAGIC"), an unlisted material subsidiary of the Company, has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Pune Zonal Unit, under Section 73(1) of the Central Goods and Services Tax Act, 2017 (“the Act"), on 29 September 2023 alleging a tax demand of Rs.
1010,05,80,540/," stated the company in its BSE filing. The show cause notice was issued for the non-payment of GST on two matters by the company during July 2017 to March 2022."Exciting news! Mint is now on WhatsApp Channels
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