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Aditya Birla Fashion and Retail Limited has reported receiving tax demand orders from authorities in Kolkata and Patna, totaling approximately ₹13.33 crore (cr). The Kolkata order imposes a total demand of ₹42.48 lakh (including tax, interest, and penalty), while the Patna order amounts to ₹12.91 crore. These demands stem from audits and scrutiny proceedings, citing issues related to ineligible input tax credit (ITC) claims.
Despite this development, the company maintains that there is no immediate financial or operational impact, asserting the demands are not legally sound. Aditya Birla Fashion plans to appeal against these orders. Investors should monitor this situation closely, as successful challenges could mitigate potential risks to the company's financial outlook.
All announcements from Aditya Birla Fashion and Retail Limited