Jubilant Ingrevia Limited has received an order under Section-73 of the CGST Act, 2017 from Joint Commissioner, Pune – II, Maharashtra confirming the demand of Rs. 6,63,00,738/- for FY 2020-21, according to the company’s regulatory filing.
The matter relates to the alleged wrong availment and utilization of Input Tax Credit in violation of Section 16 of the GST Act(s), 2017 and hence a Tax plus 10% penalty was imposed on the tax demanded. “The order is incorrect in law and the company has a strong case to defend itself and will file an appeal against the said order,” said Jubilant Ingrevia in their regulatory filing.
The disclosure before the exchange was under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Top of Form
Source #ET
