What was the primary reason for the ₹115.86 crore

Q: Answer-What was the primary reason for the ₹115.86 crore penalty imposed on IndiGo by GST authorities?

IndiGo faced a 115.86 crore penalty due to the denial of input tax credit ITC on offshore services, as they were not considered exports under GST laws.

penalty imposed on IndiGo by GST authorities?

A Non-payment of Goods and Services Tax (GST) on ticket sales

B Incorrect classification of aircraft lease payments

C Denial of input tax credit (ITC) due to offshore services not being considered as exports

D Failure to submit annual GST returns on time

E Excessive claims on GST refunds

Practice Next

More GK Miscellaneous Questions

Gair dance is performed by the ___ community of Rajasthan.
Alarmel Valli is an Indian classical dancer and choreographer and a foremost exponent of the __________ dance form of Bharatanatyam
Which of the following nations assumed the Chairmanship of the Council of Regional Anti-Terrorist Structure of Shanghai Cooperation Organization (RATS ...
As per the Living Planet Report 2022 published by the World Wildlife Fund there has been a ________% decline in the wildlife population over 50 years....
Who was the title sponsor of the Ultimate Table Tennis league recently?
Which of the following is correct?
The ozone layer thickness is measured in:
What is the global rank of Hindon Airbase among the world's airbases?
How many circles does a target have in archery?
Identify the disease caused by Mycoplasma.

Relevant for Exams:

IBPS RRB Scale 2

What was the primary reason for the ₹115.86 crore

Solution

Relevant for Exams: