Britannia Industries Ltd has received a tax demand from the Office of the Commissioner of CGST & Central Excise, Thane. The order alleges non-payment of tax for the fiscal years 2020-21 to 2023-24, due to incorrect classification of goods supplied.
The total demand, including tax and penalties, amounts to ₹6.37 crore, alongside applicable interest.
Britannia has indicated that there will be no material impact on its financials or operations due to this order and plans to exercise its legal remedies under the GST law.
