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Cipla faces penalty of over Rs 1 Cr by GST authorities

YourStory

YourStory · 8m ago

Cipla faces penalty of over Rs 1 Cr by GST authorities

Cipla Ltd, a leading pharmaceutical company, has been fined over Rs 1 crore by GST authorities for allegedly claiming inadmissible credit. The penalty of Rs 1,11,94,324 was imposed based on an order passed on December 18, 2024, under the Central Goods and Services Tax Act, 2017. Cipla believes that the penalty is unjustified and plans to file appeals with the appellate authority. The company stated that the fine will have no material impact on its financials or operations.

Related News

Zomato parent Eternal receives over Rs 40 crore tax demand, penalty from GST authority - The Economic Times

Economic Times

Economic Times · 6d ago

Zomato parent Eternal receives over Rs 40 crore tax demand, penalty from GST authority - The Economic Times

Eternal, owner of Zomato and Blinkit, received three GST orders from Bengaluru authorities, totaling over Rs 40 crore for July 2017–March 2020. The demand includes tax, interest, and penalty. Eternal plans to appeal the orders, asserting confidence in its legal stance with support from legal counsel. The orders specify a GST demand of Rs 17.19 crore, with additional interest and penalties, and were issued by Bengaluru's Joint Commissioner.

Infibeam Avenues faces Rs 32 Cr GST demand; plans to appeal

YourStory

YourStory · 6m ago

Infibeam Avenues faces Rs 32 Cr GST demand; plans to appeal

Infibeam Avenues, an Indian fintech firm, faces a Rs 32.01 crore tax and penalty order from the Central GST Office, which it intends to contest. The order allegedly mistakes GST exemptions on certain card transactions. Infibeam argues the order ignores a GST Council clarification allowing exemptions for RBI-regulated payment aggregators. The company asserts the demand is unfounded and is exploring options, including rectification under the CGST Act, without expecting significant financial impact.

Zomato gets Rs 4.59 crore tax demand notices

Economic Times

Economic Times · 1y ago

Zomato gets Rs 4.59 crore tax demand notices

Food delivery platform Zomato has received GST tax demand orders exceeding Rs 4.59 crore from Tamil Nadu and West Bengal authorities. The company plans to appeal against the demand. Tamil Nadu issued an order for GST of Rs 81,16,518, plus applicable interest and penalty, while West Bengal issued an order for GST of Rs 1,92,43,792, along with interest and penalty. Zomato stated that it has provided clarification along with relevant documents, and believes it has a strong case to defend the matter. The company does not anticipate any financial impact.

SC stays GST notices worth over Rs 1 L Cr against online gaming firms for tax fraud

YourStory

YourStory · 7m ago

SC stays GST notices worth over Rs 1 L Cr against online gaming firms for tax fraud

The Supreme Court has stayed GST authorities' showcause notices, valued at over Rs 1 lakh crore, against online gaming firms over alleged tax evasion. Justices J B Pardiwala and R Mahadevan ruled that all proceedings against these companies remain paused, pending further hearing. The GST law was amended in October 2023 to require foreign online gaming firms to register in India, with a 28% GST on bets. Various firms challenged these demands, and the Supreme Court consolidated cases for review.

Zomato gets Rs 11.82 crore tax demand notice

Economic Times

Economic Times · 1y ago

Zomato gets Rs 11.82 crore tax demand notice

Food delivery platform Zomato has been issued a tax demand and penalty order of Rs 11.82 crore ($1.6 million) related to Goods and Services Tax (GST) on exports services provided to its subsidiaries outside of India. The company plans to appeal against the order, stating that it believes it has a strong case. The order, issued by the Additional Commissioner of Central Goods and Services Tax, Gurugram, asserts a GST demand of Rs 5.9 crore ($800,000) with applicable interest and a penalty of the same amount. Zomato has clarified its position and provided supporting documents in response to the authorities' allegations.

Zomato receives GST demand worth ₹23.26 crore from Karnataka govt

Inshorts · 1y ago

Zomato receives GST demand worth ₹23.26 crore from Karnataka govt

Zomato has received a demand notice worth ₹23.26 crore from GST authorities of Karnataka government. The demand, which includes penalty worth ₹1.12 crore and interest worth ₹10.86 crore on GST of ₹11.27 crore, has been raised for excess availment of input tax credit. Zomato said it had clarified with relevant documents, "which appear to not have been appreciated by authorities".

Zomato’s GST Troubles: Foodtech Giant Receives Another Demand Notice

Inc42 · 1y ago

Zomato’s GST Troubles: Foodtech Giant Receives Another Demand Notice

Zomato has been hit with a GST tax demand of INR 1.89 lakh, along with interest and penalty, by the Sales Tax Officer in Delhi. The food delivery platform has stated that it will pay the applicable dues and the cost of litigation. This comes after Zomato received GST tax demand and penalty orders totaling INR 4.59 crore from authorities in Tamil Nadu and West Bengal earlier this week.

Eternal Hit With INR 1.34 Cr GST Demand for FY22, Set to Challenge Order

StartupTalky

StartupTalky · 25d ago

Eternal Hit With INR 1.34 Cr GST Demand for FY22, Set to Challenge Order

Eternal, a company owning Zomato and Blinkit, faces a INR 1.34 crore GST demand for FY22, due to excess input tax credits and underpaid output taxes. Issued by Lucknow's Deputy Commissioner of State Tax, this order involves a tax demand and penalty. Eternal plans to appeal, citing a strong case. Concurrently, financial issues mar the company, with a notable profit drop despite increased revenue, and ongoing industry concerns over Zomato's new long-distance delivery fees.

Karnataka GST authorities write to 161 online gaming firms, ask them to apply revised rate

Economic Times

Economic Times · 1y ago

Karnataka GST authorities write to 161 online gaming firms, ask them to apply revised rate

Karnataka GST authorities have written to 161 online gaming firms asking them to collect GST at a revised rate of 28% on the full face value of bets in online real money games, effective from October 1. The authorities want to ensure that the companies are aware of the recent amendments to the GST laws and have them diligently collect taxes as per the new rate. This move is expected to increase tax revenues in Karnataka by about Rs 1,500 crore annually.

Tata Steel gets show cause notice over input tax credit of Rs 1,000 cr availed during FY19-23

Economic Times

Economic Times · 2m ago

Tata Steel gets show cause notice over input tax credit of Rs 1,000 cr availed during FY19-23

Tata Steel received a show cause notice from tax authorities for allegedly irregularly availing input tax credit worth Rs 1,000 crore between FY19 and FY23. The notice demands explanation for GST recovery of Rs 1007 crore. Tata Steel has already paid over Rs 514 crore in GST. The company believes the notice lacks merit and plans to address the issue through proper channels, asserting no financial impact from the notice.

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