Coromandel International Limited has disclosed an order-in-appeal concerning an alleged excess availment of Input Tax Credit (ITC) for FY 2019-20. The tax demand amounts to ₹71,63,421, with an additional penalty of ₹12,66,303, plus applicable interest. The company intends to appeal this order before the Goods and Services Tax Appellate Tribunal, stating it has a strong case and expects no significant impact on its financials or operations.
GST Order-in-Appeal Filed
Coromandel International Limited has submitted a disclosure regarding an order passed by the Additional Commissioner (Appeals), Jodhpur. This order pertains to the fiscal year 2019-20 and involves a demand related to the Central GST / Rajasthan GST Act, 2017, and IGST Act, 2017.
Demand Details and Company’s Stance
The specific order includes a tax demand of ₹71,63,421, coupled with a penalty of ₹12,66,303, and applicable interest. The core of the demand is an alleged excess availment of Input Tax Credit (ITC), attributed to mismatches between GSTR-3B filings and the auto-populated GSTR-2A for the aforementioned financial year.
Coromandel International has expressed confidence in its position, stating that the company believes it has a strong case to defend on the merits. Consequently, the company is planning to file an appeal before the Goods and Services Tax Appellate Tribunal. Despite the levied demand, the company anticipates no significant impact on its financial position, operations, or other activities.
Source: BSE
