Delhi High Court Cancels GST Demand Against ICICI Lombard Insurance
Directs the adjudicating authority to proceed afresh
By: : Suraj Sinha
Update: 2024-12-12 12:00 GMT
Delhi High Court Cancels GST Demand Against ICICI Lombard Insurance
Directs the adjudicating authority to proceed afresh
The Delhi High Court has quashed the Order-in-Original passed by the Goods and Services Tax (GST) officer, the Department of Trade & Taxes, the Government of N.C.T. of Delhi, and allowed the ICICI Lombard General Insurance Company Limited writ petition.
ICICI received Rs.1,49,55,43,768 GST demand, Rs.1,24,34,72,940 interest and Rs.14,95,54,377 penalty for Financial Yeat 2019-20.
The demand was for the Input Tax Credit (ITC) that the company availed, the corresponding reconciliation with various parameters and reconciliation difference between values reported in monthly returns, corresponding with the annual return.
Thus, the company challenged the order and filed a writ petition.
The bench directed the adjudicating authority to proceed afresh considering the show-cause notice and reply submitted by the company.