PCBL Chemical has received an order regarding a GST demand. The Additional Commissioner of Appeals partially allowed the company’s appeal, revising the demand to ₹2,35,741 including IGST, CGST and SGST along with applicable interest and penalty. This is against an initial demand of ₹27,94,167. The order pertains to alleged incorrect input tax credit availment during fiscal years 2018-19 and 2020-21.
GST Demand Revised
PCBL Chemical announced the receipt of an order related to GST. This follows an earlier intimation about a demand issued by the Assistant Commissioner, GST (Central Tax), Sangareddy Division.
Order Details and Impact
The initial demand was ₹27,94,167 plus applicable interest and penalty. This was related to the period from April 2018 to March 2019 and April 2020 to March 2021. Following an appeal by the company, the Additional Commissioner of Appeals II issued a revised order, reducing the demand to ₹2,35,741. This revised amount comprises IGST of ₹53,147, CGST of ₹91,297, and SGST of ₹91,297, along with applicable interest and penalty. The company believes this order will not have a material impact on its operations.
Source: BSE
