United Spirits Limited — Others, 23-11-2024: Action(s) initiated or orders passed

United Spirits Limited has announced a board meeting to address an order from the Joint Commissioner of Commercial Taxes regarding GST compliance. The order mandates an 18% GST rate on income from trademark licensing instead of the previously applied 12%. The company plans to appeal the decision at the GST Appellate Tribunal once operational. However, United Spirits believes it has a strong case and does not anticipate significant financial impact, with potential liabilities totaling INR 31.5 Crore in tax, INR 3.2 Crore in penalty, and applicable interest. This could signal a positive outlook for the company if the appeal is successful, mitigating risks associated with the financial claim.