BAJAJ BROKING
Technology consulting firm LTIMindtree has announced its intention to challenge a tax demand order of ₹155.7 crore, including penalties and interest, issued by the GST Department of Maharashtra. The order was received as per the provisions of Section 73 of the Maharashtra GST Act 2017 and relates to fiscal year 2018-19.
Additioanl Read: Share Market News
The demand primarily stems from alleged violations concerning zero-rated supplies, leading to the imposition of taxes and the reversal of input tax credits. The order specifically targets output IGST demand and the proportional reversal of input tax credit, as well as the rejection of previously granted refunds.
Additional Read: Commodities Market Today
LTIMindtree has expressed disagreement with the tax demand, deeming it unjustified based on factual analysis and prevailing laws. The company intends to pursue appropriate legal action against the order in consultation with its advisors.
The company reassures stakeholders that the tax demand is not expected to have a significant material impact on its financials or operations. It asserts its commitment to addressing the situation through legal recourse while maintaining business continuity.
Additional Read: Gold Rate Today
In light of the tax demand, LTIMindtree stands firm in its position to contest the order, emphasising its adherence to legal processes and consultation with advisors. The company remains focused on its operations and assures stakeholders of minimal impact on financials due to the ongoing dispute.
Sources:
https://www.moneycontrol.com/news/business/ltimindtree-gst-demand-order-maharashtra-12715835.html
https://www.cnbctv18.com/business/companies/ltimindtree-gets-gst-demand-order-of-rs-155-7-crore-for-fy-2019-19407406.html
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Gold Price in India | Gold Rises 1% to $2,719 Ahead of U.S. PPI Data
12 Dec, 2024 | 39 Min. read
Indian Overseas Bank Receives ₹808.3 Crore Income Tax Refund
12 Dec, 2024 | 2 Min. read
Shakti Pumps Secures ₹754.3 Crore Solar Water Pump Order in Maharashtra
12 Dec, 2024 | 2 Min. read
Coca-Cola Sells 40% Stake in Bottling Arm to Jubilant Bhartia Group
12 Dec, 2024 | 2 Min. read
Vedanta to Consider Fourth Interim Dividend on December 16
12 Dec, 2024 | 2 Min. read
Share Market Today | Flat to Positive Start Expected for Indian Markets Amid Global Cues
12 Dec, 2024 | 4 Min. read
Securities Transaction Tax: Meaning & Charges
12 Dec, 2024 | 7 Min. read
International Gemological Institute India IPO Issue Date & Pricing
12 Dec, 2024 | 4 Min. read
How to Apply for International Gemological Institute India IPO?
12 Dec, 2024 | 3 Min. read
Robo Trading: Meaning, Examples, Features & Types
12 Dec, 2024 | 6 Min. read
India’s Leading Infrastructure Stocks for 2024
12 Dec, 2024 | 6 Min. read
India’s Leading Government Stocks in 2024
12 Dec, 2024 | 6 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading