Aditya Birla Lifestyle Brands Ltd Faces ₹ 3,10,13,33,083 Demand Order from Central Tax Authority

Aditya Birla Lifestyle Brands Ltd has received a demand order from the Additional Commissioner of Central Tax Bangalore-East Commissionerate, totaling ₹ 3,10,13,33,083 for the financial years 2019-20 to 2022-23. The demand is related to the irregular availment of Input Tax Credit (ITC), interest on reversal of ITC, interest on delayed upload of output liability, ineligible credit note availment, blocked ITC availment, wrongly ISD ITC availment, and non-payment of GST on ISD Invoice. The company, however, believes that the demand is not tenable as per the law and intends to file an appeal before 'The Appellate Authority'. There is no impact on the financials, operations, or other activities of the company.