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From United Spirits to Zomato, multiple companies get tax demand notices

Various firms across India are getting GST demand notices along with penalty and interest from tax officials

tax

ICICI Securities on Tuesday said it has received a tax demand of about Rs 66.70 lakh from the Gujarat state GST department.

Agencies New Delhi
Various companies across India are getting GST demand notices along with penalty and interest from tax officials. Here are few notables names getting notices from Income Tax department and GST department.
United Spirits
United Spirits Ltd said it has received a tax demand of Rs 5.51 crore, including interest, for non-submission of certain statutory declaration forms, and delivery proofs.
The Deputy Commissioner of State Tax, Nanded, has levied a demand on non-submission of certain statutory declaration forms and delivery proofs in the case of Pioneer Distilleries Ltd, merged with the company with effect from December 30, 2023, United Spirits Ltd said in a regulatory filing.
The quantum of demand is Rs 5.51 crore, including interest of Rs 2.99 crore, it added.


"The company will be contesting the matter by filing a rectification application or appeal before higher authorities," United Spirits said.
Zomato
Online food delivery platform Zomato said it has received a service tax demand and penalty order aggregating over Rs 184 crore, and will file an appeal against it before an appropriate authority.
The demand order has been received for non-payment of service tax for the period October 2014 to June 2017 determined on the basis of certain sales made by the foreign subsidiaries and branches of the company to its customers located outside India, the company said in a late night regulatory filing.

ALSO READ:?Income tax notices lead to stress among startups, executives and investors
Vedanta
Mining giant Vedanta Ltd has received GST demand notices to the tune of Rs 1.86 crore for availing input tax credit, which has been termed "ineligible" by the tax authority. The company said it will file an appeal against the orders. In a regulatory filing on Tuesday, Vedanta Ltd said the Office of the Assistant Commissioner, Tirunelveli, Tamil Nadu, has sent the GST demand notice. "The company has received orders from Office of Assistant Commissioner, Tirunelveli, Tamil Nadu, confirming demand of GST related to Input Tax Credit availed by the company which is regarded as ineligible by such tax authority for the period from FY 2017-18 till FY 2021-22," Vedanta said. The demand notice is for Rs 1,86,41,244, which includes interest and penalty. Vedanta said it has evaluated the merits of the case and decided to file the appeal with the appellate authority within the time limit prescribed under the GST law. "The company is hopeful of a favourable outcome thereof and does not expect the said orders to have any material financial impact on the company," it added.
ICICI?Securities

ICICI Securities on Tuesday said it has received a tax demand of about Rs 66.70 lakh from the Gujarat state GST department.
In a regulatory filing, the brokerage firm said the demand includes demand of GST worth Rs 31.78 lakh, interest of Rs 31.72 lakh and penalty of Rs 3.20 lakh.

The Gujarat GST authority has demanded about Rs 66.70 lakh GST, along with interest and penalty, for alleged excess claim of GST credit.
The company will defend the matter before the appellate authorities and file an appeal against the order before the Commissioner (Appeals).
Shares of ICICI Securities closed at Rs 719.85 apiece, down 0.54 per cent over the previous close on BSE.

Sobha Ltd
Realty firm Sobha Ltd has received demand notices of nearly Rs 46 crore from Income Tax Department.
The notices were issued by Deputy Commissioner of Income Tax, Central Circle- 1(4), Bengaluru. The notices are related to Assessment Year ( AY) 2016-17 and 2022-23.
In a regulatory filing on Monday, Sobha informed that the "company has received demand notices under section 156 of the Income Tax Act, 1961 for Rs 13.12 crore and Rs 32.68 crore related to AY 2016-17 and AY 2022-23 respectively, due to disallowances of certain expenses and other additions."

Sobha said it is in the process of filing an appeal before the Commissioner of Income Tax (Appeals), against the said orders within the prescribed timelines.
"The company has legal and factual grounds to substantiate its case. The company is in the process of evaluating the implications of these orders on the financial statements," Sobha said.
Infosys
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order.

The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order.

"Infosys Ltd on March 31, 2024, received order...from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of Rs 341 crore (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending March 31, 2024, and also evaluating filing an appeal against this order," Infosys said in a BSE filing.

Nestle

Nestle India gets tax order for demand at Rs 13 lakh.

Ethos?

Ethos gets order for assessment year 2019- 20 with tax demand of Rs 43 million.

JK Tyre & Industries

JK Tyre & Industries got tax demand notice for Rs 23.8 million.
?
Shah Alloys

Shah Alloys gets tax demand notice for Rs 5.4 million.
Star Paper Mills

Star Paper Mills gets assessment order for tax demand at Rs 11.5 million.

SAL Steel

SAL Steel gets tax demand notice for Rs 309.3 million.
?
Astron Paper & Board
Astron Paper & Board mill gets tax demand notice for Rs 45.9 million.

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First Published: Apr 02 2024 | 6:36 PM IST

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