Aegis Logistics has received demand orders from Gujarat tax authorities for alleged violations related to ITC disallowance. The penalties amount to ₹58.69 lakhs for FY 2021-22 and ₹2.29 crores for FY 2018-19. Aegis Logistics is taking steps to appeal these orders, stating they don’t anticipate a significant impact on financial operations.
Demand Orders Received
Aegis Logistics has been issued demand orders from state tax authorities in Gujarat relating to Goods and Services Tax (GST). The orders concern alleged non-compliance with Input Tax Credit (ITC) rules.
Financial Impact
The demand order for the financial year 2021-22 results in a penalty of ₹58,68,896. A separate demand order for the financial year 2018-19 has imposed a penalty of ₹2,29,07,608.
Company Response
Aegis Logistics has stated that there will be no material impact on the company’s finances or operations. The company has initiated steps to appeal the orders before the appropriate appellate authority.
Source: BSE
