GST authorities issued a demand notice for Rs 6.37 crore to Britannia Industries, prompting the company to consider legal remedies.
The Thane Commissioner’s order concerns FY 2020-21 to FY 2023-24, citing non-payment of tax due to “incorrect classification” of goods.
The total amount includes a tax of Rs 2.12 crore and a penalty of Rs 4.24 crore, plus interest.
Britannia stated this will have “no material impact on the financials, operations, or other activities” despite owning major brands like Good Day and Tiger.
The company plans to appeal the order and pursue legal options under the GST law.
Source: Business Standard