Patanjali Foods Limited — Important, 27-02-2025: General Updates

Patanjali Foods Limited has reported receiving a communication from the Office of the Commissioner of GST & Central Excise, Chennai, regarding a penalty for non-compliance related to the non-reversal of ineligible Input Tax Credit (ITC) of Compensation Cess availed during FY 2020-21 to FY 2022-23. The total penalty imposed amounts to ₹33.90 lakh (33,90,542). The company indicates that this will not have a material impact on its financial or operational activities, aside from the penalty. In response, Patanjali Foods intends to appeal against this penalty before the Appellate Authority under the provisions of the CGST Act, 2017.