Tax & Penalty29 Aug 2026, 09:30 am
Godavari Biorefineries Receives ₹18.12 Cr Tax Demand Notice
AI Summary
Godavari Biorefineries Ltd has received a show-cause notice from the Commercial Tax Officer (Enforcement), Jamkhandi, Karnataka, concerning alleged short payment/non-payment or ineligible input tax credit for the tax period 2022-23. The notice, issued under the CGST/KGST Act, 2017, demands recovery of approximately ₹18.12 crore, including interest and penalty. The total GST demand is around ₹10.57 crore, with applicable interest of ₹6.50 crore and a penalty of ₹1.05 crore. The company is currently evaluating the financial impact and plans to take appropriate legal steps, including filing a reply or appeal.
Key Highlights
- Received show-cause notice for tax period 2022-23.
- Allegations include short payment and ineligible input tax credit.
- Total demand including interest and penalty is approx. ₹18.12 crore.
- Company is evaluating financial impact and legal recourse.
Price Impact
More from GODAVARIB