SRF Limited has disclosed that the Office of the State Tax Officer, Uttarakhand, has imposed a penalty of ₹12,77,382. This penalty relates to an alleged mismatch between the delivery challan and the e-way bill, where the tax amount was inadvertently reflected as Nil. SRF has paid this amount under protest and intends to contest the demand, stating that it is legally untenable due to a procedural/clerical error.
SRF Limited Discloses Tax Penalty
SRF Limited has announced a disclosure regarding a penalty imposed by the Office of the State Tax Officer, Uttarakhand. The penalty, amounting to ₹12,77,382, was levied due to an alleged discrepancy between the particulars mentioned in a delivery challan and the corresponding e-way bill. Specifically, the tax amount was inadvertently recorded as Nil on the delivery challan.
Company’s Stance and Payment
The company has clarified that the movement of goods was facilitated under a delivery challan against a taxable invoice, and the applicable GST had already been discharged through the tax invoice. SRF believes this situation arose from a procedural or clerical error and does not alter the substance of the transaction. Consequently, SRF has paid the penalty amount of ₹12,77,382, but it was done under protest.
Legal Challenge Planned
SRF Limited is of the view that the demand is not legally tenable and has stated its intention to contest the same before the appropriate legal forum. The company emphasized that there is no additional tax liability or loss of revenue to the Government resulting from this incident, as the correct GST amount was accurately disclosed in the e-way bill accompanying the goods.
Source: BSE
