Coromandel International Faces ₹1.78 Cr GST Demand

Coromandel International Ltd has received an Order-in-Appeal from the Deputy Commissioner (Appeal), Chennai North, Tamil Nadu State GST, concerning FY 2019-20. The order confirms a demand of ₹1,78,56,068 in tax, ₹2,08,43,168 in interest, and ₹17,85,606 in penalty, totaling approximately ₹4.05 Crore. The demand is on account of alleged availment of ineligible Input Tax Credit. The company believes it has a strong case and intends to file an appeal before the GSTAT. Coromandel International stated that the order is not expected to have a significant impact on its financials, operations, or other activities.