NBCC (India) Limited has received orders from CGST authorities regarding demands for tax, penalties, and interest under the Goods and Services Tax (CGST) Act, 2017. The demands relate to overseas projects. NBCC is preparing to appeal these orders and does not anticipate a material impact on its financial or operational activities.
CGST Order Details
NBCC (India) Limited has received orders from the Central Goods and Services Tax (CGST) authorities relating to tax demands, penalties, and interest under the CGST Act, 2017. The orders pertain to the company’s overseas projects.
Overseas Work Tax Demand
The tax demand, including penalty and interest, for both overseas projects amounts to ₹79,95,11,842. These projects were executed by NBCC as Project Management Consultant (PMC) in overseas countries. Separately, another demand including interest and penalty amounts to ₹14,56,27,770.
Company’s Response
NBCC is taking necessary steps to file an appeal against these orders before the appropriate authority. The company does not anticipate any material impact on its financial, operational, or other business activities as a result of these orders. Several points are being contested including apportionment of ITC and ITC reversals.
Source: BSE
