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7 Indian and 3 Foreign Law Firms help Paytm raise India’s largest IPO

The Office of Deputy Commissioner, Noida has issued a notice in December 2020 proposing to levy a tax demand of Rs. 1,780 crores and an interest and penalty of Rs.1,900 crores. It was alleged that due tax had not been paid under correct head and input tax credit had been wrongly claimed/availed and utilized by Paytm by making wilful-misstatements and supersession of facts for the Period.