ICICI Lombard shares fall, second tax notice in two months spurred

ICICI Lombard received the tax notice on September 27, two days after the appointment of new MD and CEO Sanjeev Mantri. Apart from this, it is the second time in two months that the company has received a tax-related notice. Earlier on August 8, the company had informed in its exchange filing that it has asked the DGCI, New Delhi to pay tax of Rs 273,44,50,284 i.e. around Rs 273.44 crore under Section 74 (1) of the GST Act. The case related to GST on salvage adjusted and ineligibility of unput tax credit settled on motor claims. The company has also deposited 104,13,18,970 rupees without admitting any debt. The company has said that it will present its response on it.

Source link

Leave a Comment