Coromandel International Receives Tax Order for ₹1.23 Cr

Coromandel International Ltd has received an Order-in-Appeal from the Joint Commissioner (Appeals), CGST Appeal Commissionerate, Jammu, for FY 2018-19. The order pertains to a tax demand of ₹1,23,51,441/- along with a penalty of ₹12,35,144/- and applicable interest. The demand is primarily based on alleged excess availment of Input Tax Credit (ITC) due to mismatches in GSTR-3B and GSTR-2A filings. The company believes it has a strong case and intends to appeal the order before the GST Appellate Tribunal, Jammu. Coromandel International stated that the order is not expected to have a significant impact on its financials, operations, or other activities.