Liquor major United Breweries on Wednesday said that the company has received orders and demand notices from the Kerala State Goods & Services Tax Department, Palakkad.
The demand was raised alleging non-payment of turnover tax on the sale of beer, the company said in an exchange filing. The total tax demand stands at Rs 18.60 crore plus applicable interest and pertains to FY 2022-23 and 2023-24.
United Breweries shares were trading at Rs 2059.85 apiece on the BSE, down 0.26 per cent in the final session of Wednesday.
The maker of Kingfisher beer said that it has made adequate provision in the financials for the above demand, hence it will not have any material impact. “The Company is exploring appropriate legal remedies against the said orders,” United Breweries said.
Source #ET
