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Notification Date: 29-04-2024Notification No: N/APatanjali Receives Rs 27.5 Crore Tax Claim From GST AuthorityOn Friday, Patanjali Foods said it had received a show cause notice from the Directorate General of GST Intelligence in Chandigarh over a Rs 27.5 crore tax claim,
The authority has pulled up the company over input tax and could impose a penalty on it under the CGST Act.
"A Show Cause Notice is received by the Company from the Directorate General of GST Intelligence, Chandigarh Zonal Unit, requiring the Company, its Officers and authorised signatories to show cause as to why Input Tax Credit (ITC) amounting to Rs 27,46,14,343 should not be recovered (along with interest), and why penalty should not be imposed under Section 74 and other applicable provisions of the CGST Act 2017/Uttarakhand SGST Act, 2017 read with section 20 of IGST Act 2017," the FMCG company said in an exchange filing.The company will be defending itself in front of the authority.
"As of now the authority has only issued a show cause notice and the Company will be taking all necessary action to defend its case before the authority, hence, expected financial implications cannot be determined till the completion of the proceedings," the filing said.
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