Arvind Fashions Ltd Receives ITC Demand Order of Rs. 5.4 Crore for AY 2019-2021

Arvind Fashions Ltd has received a demand order from the Joint Commissioner of Central Tax, Bengaluru North Commissionerate, Bengaluru, for an Input Tax Credit (ITC) amounting to Rs. 5,40,75,947 (IGST Rs. 5,40,75,947) for Assessment Year 2019-2020 & 2020-2021. The demand is related to input tax credit disallowance and the Company is challenging the order in the appropriate forum. The Company believes it has adequate factual and legal grounds to substantiate its position in the matter, expecting no impact on financial, operational, or other activities.