Asian Tea & Exports Ltd Investigation Closure by Tax Authority

Asian Tea & Exports Ltd has received a report on the closure of an investigation process initiated by the Deputy Commissioner of State Tax, Bureau of Investigation (South Bengal). The inspection, conducted under the West Bengal Goods and Service Tax Act, 2017, focused on the company's failure to provide details of exempt supplies for FY 2022-23 to FY 2025-26. The company's representatives appeared for hearings and submitted documentation. The issue of exempt supplies, particularly concerning tea and pulses, has been reconciled, with the company clarifying that tea was taxed at 5% and pulses were exempt. The tax authority confirmed no tax liability on this matter, leading to the closure of the investigation. The company states there is no material impact on its financial or operational activities.