Britannia Industries Limited — Others, 16-01-2025: Action(s) taken or orders passed

Britannia has received an order from the Assistant Commissioner of Central GST Division, Sonipat, Haryana, related to a tax and penalty amounting to ₹1.16 crore. The demand includes ₹12.32 lakh in tax and ₹1.03 crore in penalties, stemming from several identified issues under the Central Goods and Services Tax Act. However, the company has indicated that there will be no material impact on its financials or operations as a result of this order. Britannia plans to pursue legal remedies against the order. This development may elicit a neutral impact on investor sentiment, given the company’s assertion of minimal financial repercussions.