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Aditya Birla Fashion and Retail Limited has received a GST demand order from the Office of the Joint Commissioner in Dehradun, imposing a total demand of ₹11.76 Crore. This includes a tax amount of ₹5.88 Crore and an equal penalty. The demand stems from issues regarding input tax credit related to vendor defaults in filing returns, which led to a reversal of input tax in the Annual Return instead of the required monthly return.
Despite the significant demand, the company asserts that this order is not justifiable under the law and plans to file an appeal with the Appellate Authority. The management believes that there will be no financial or operational impact resulting from this order, maintaining a positive outlook for the company's operations. Shareholders should watch closely for updates on the appeal process.
All announcements from Aditya Birla Fashion and Retail Limited