Question

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

A fish is at a depth d below the surface of a water tank. A cat observes the fish from air. Due to refraction at water-air interface, the apparent depth...
Lichens are sensitive to which air pollutant?
Which of the following terms does not represent electrical power in a circuit ?
Proteins are assembled from how many amino acids?
Which gas turns lime water milky?
When a detergent is added to pure water, its surface tension –
Up to what temperature can a mercury thermometer measure?
Two identical circular current-carrying loops, placed coaxially, carry the same current i in the same direction . As the loops are brought closer to eac...
Bulb is an underground condensed
The oldest type of energy known to man is –

Relevant for Exams:

IBPS RRB Scale 2

What was the primary reason for the ₹115.86 crore

Solution

Relevant for Exams: