Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
IDBI Bank receives Rs 2.97 Crore GST Demand Order for Dehradun State Tax Dept
GST
IDBI Bank received a GST demand notice of Rs 2.92 crores from the Dehradun State Tax Department for alleged excess input tax credit (ITC) availment. The notice included a demand of Rs 1.42 crore, along with interest and penalties totaling Rs 1.41 crore and Rs 0.14 crore, respectively. \r
IDBI Bank, established in 1964 as a development finance institution, is now owned by Life Insurance Corporation of India and the Government of India. The bank stated it is assessing legal recourse, including appeal. \r
Despite a net profit of Rs 1,133 crore in the preceding year, net profit for fiscal year 2023-24 surged to an all-time high of Rs 5,634 crore, with total income reaching Rs 30,037 crore, up from Rs 24,942 crore in fiscal year 2022-23.
