LG Electronics India Gains as Rs 117 Cr GST Demand Dropped - Equitypandit

Shares of LG Electronics India hit a day high of Rs 1,575.20 on the NSE Thursday after GST authorities dropped a Rs 116.72 crore demand. The demand traced back to FY2021-22. Tax officials had issued a show cause notice in May, alleging the company claimed excess input tax credit that year based on mismatches between its GST returns. Input tax credit is money a business can claim back on tax alread…