Britannia Industries Faces Rs 108.5 Crore GST Demand Over Alleged ITC Irregularities
2 hours agoBusiness
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Britannia Industries Faces Rs 108.5 Crore GST Demand Over Alleged ITC Irregularities

Britannia Industries has been issued a Goods and Services Tax (GST) order demanding Rs 108.5 crore in tax, plus an equivalent penalty and interest, for alleged input tax credit (ITC) irregularities between FY19 and FY24. The order comes from the CGST and Central Excise office in Chennai. Britannia stated the order is appealable and does not significantly impact its financials or operations, and plans to pursue legal remedies. The company did not detail the nature of the alleged irregularities.

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