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GST department issued a show cause notice to this company of Anil Ambani, it will have to be paid 922.58 crores
Reliance General Insurance Company has received several show notices from the GST department for a total value of Rs 922.58 crore. RGIC is part of Reliance Capital. The company is undergoing the loan solution process through NCLT. RGIC holds around 70 percent stake in Reliance Capital. These notices are about the company's business like re-insurance and co-insurance.
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“GST department issued a show cause notice to this company of Anil Ambani, it will have to be paid 922.58 crores”
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en.sangritimes.com
8 Oct 2023
Reliance General Insurance Company headed by industrialist Anil Ambani has received several reasons for the total value of Rs 922.58 crore from the GST department. Reliance General Insurance Company is a subsidiary of Reliance Capital.
In the report of the news agency PTI, sources were quoted as saying that the company has received a total of four show cause notices. Notice that this is Rs 478.84 crore, Rs 359.70 crore, Rs 78.66 crore, and fourth is Rs 5.38 crore. These notices are about the company's business like re-insurance and co-insurance.
According to the tax expert, RGIC audits will have to show the amount recorded in the notice as a casual liability in the September 30 results.
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