GST authorities issue demand notice of ₹6.37 crore to Britannia Industries
The order has been passed under Section 74 of the GST Act for FY 2020-21 to FY 2023-24, alleging non-payment of tax due to "incorrect classification" of goods supplied
 "GST authorities issue demand notice of ₹6.37 crore to Britannia Industries")
GST authorities have issued a demand notice of Rs 6.37 crore to Britannia Industries, and the company is exploring legal remedies.
The bakery food company received the order from the Office of the Commissioner of CGST & Central Excise, Thane on Monday, according to a regulatory filing from the company.
The order has been passed under Section 74 of the GST Act for FY 2020-21 to FY 2023-24, alleging non-payment of tax due to "incorrect classification" of goods supplied.
"The tax and penalty quantified in the order amount to Rs 2,12,40,000 and Rs 4,24,80,000 respectively, totalling to a demand of Rs 6,37,20,000 in addition to the applicable interest," Britannia said.
However, this will have " no material impact on the financials, operations or other activities" of the company, said Britannia, which owns popular brands such as Good Day, Tiger, NutriChoice and MarieGold.
"The order is appealable and the company shall take necessary actions, including exercising the legal remedies available under the GST law," said Britannia Industries.
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