Britannia Industries faces ₹2.5 cr tax demand, ETCFO
Britannia Industries Limited has received an Order from the office of Assistant Commissioner CGST Kamla Nagar Division, Delhi North, Delhi, according to the Company’s exchange filing.
The order was under Section 74 of the CGST Act has been passed disallowing transactional credits. The tax, Interest and penalty amounts to ₹ 67,40,606/-, ₹ 1,18,87,105/- and ₹ 67,40,606/- respectively, totalling to a demand of ₹ 2,53,68,317/-.
The intimation of amount ascertained was payable under section 74 of the Central Goods and Services Tax Act, 2017.
The Company received the order on January 3, 2025.
The Company is likely to challenge the order before an approprate authortity. “The Order is appealable, and the Company shall take necessary actions including exercising the legal remedies available under the GST law,” Britannia Industries said in the exchange filing.
The disclosure to the exchange was made under under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
