Coromandel International Faces ₹2.5 Cr Tax Demand with Penalty

Coromandel International Ltd has received an order from the Additional Commissioner, Central GST, Vadodara, for the financial years 2021-22 to 2024-25. The order pertains to alleged wrongful availment and utilization of Input Tax Credit (ITC), resulting in a tax demand of ₹2,50,82,496 (approximately ₹2.51 Crore) along with equivalent penalty and applicable interest. The company, however, believes it has a strong case and intends to appeal the order before the Commissioner (Appeals). Coromandel International stated that this demand is not expected to have a significant impact on its financials, operations, or other activities.