TTK Prestige Limited has received a Demand Notice from the Office of Excise and Taxation Department demanding ₹ 10,00,48,696/- under section 73 of Haryana Goods & Service Tax Act 2017 & Central Goods & Service Tax Act 2017, according to the Company exchange filing.
The matter relates to GST audit done for Fin Year 2020-21. The Audit observations on ITC Excess Claim, Issue of credit notes, RCM liability, Credit notes received from suppliers resulted in a demand for payment of Tax with interest & penalty.
“The Company is confident that it will get a favourable order from the appellate authority in this matter and hence there may not be any significant impact on the financial statements,” said TTK Prestige in their regulatory filing.
The disclosure before the exchange was made under Regulation 30(13) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source #ET
