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[ad_1] ICICI Lombard said the company would be filing its response to the show cause notice. New Delhi: ICICI Lombard General Insurance has received a Rs 273.44 crore-tax demand notice from the Directorate General of GST Intelligence with regard to settled motor insurance claims. According to a regulatory filing, ICICI Lombard, on August 8, received a show cause notice, dated July 26, alleging a tax demand of Rs 273,44,50,284 under the GST Act along with interest and penalty. "The matter largely relates to an industry-wide issue on applicability of GST on salvage adjusted and ineligible input tax credit, on motor claims settled. The company has deposited Rs 104,13,18,970 under protest, without accepting any liability in this regard," it said. Further, ICICI Lombard said the company would be filing its response to the show cause notice. Shares of ICICI Lombard General Insurance closed 1.70 per cent lower at Rs 1,391.60 apiece on the BSE today.   (Except for the headline, ...

[ad_1] Stocks to watch on July 19: Nifty futures traded 6 points, or 0.03 per cent, lower at 19,797.50, signaling that Dalal Street was headed for a muted start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons. Results today: Tata Communications, L&T Finance Holdings, Bank of Maharashtra, Finolex Industries, Alok Industries, Mastek, Jubilant Pharmova, Tata Coffee, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24). IndusInd Bank: The lender reported a 32.5 per cent year-on-year (YoY) growth in net profit at Rs 2,124 crore in Q1FY24, on the back of a fall in provisions. Net interest income (NII), meanwhile, grew 18 per cent YoY to Rs 4,867 crore in the recently concluded quarter. L&T Technology: The company registered 13 per cent YoY rise in net profit to Rs 311.1 crore in Q1FY24 but was down 8.5 per cent compared to the previous quarter. Revenue from operations, however, saw a 14.7 per cent YoY j...