Dabur receives GST demand notice of Rs 320.60 crore
Dabur, a domestic producer of FMCG and Ayurvedic items, announced on Tuesday that it has been issued a Goods and Service Tax (GST) demand notice totaling Rs 320.60 crore.
In response, the company stated that it will contest this notice with a robust justification, submitting its response to the appropriate authorities, as outlined in a regulatory disclosure by Dabur India.
«The Company has received intimation of tax ascertained as being payable under Section 74(5) of CGST Act, 2017, wherein GST short paid / not paid amounting to Rs 320.60 crore has been advised to be paid by the Company along with the amount of applicable interest and penalty… failing which Show Cause Notice will be issued,» Dabur informed.
However, the company — which owns power brands like Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara, and Dabur Lal Tail — said it will have «no impact on the financial, operation or other activities of the company.
»The impact will be limited to the extent of final tax liability as may be ascertained along with interest and penalty, if any," it added.
Shares of Dabur India on Tuesday settled at Rs 540.05 on BSE, up 0.55 per cent.
(With inputs from PTI)
