JK Agri Genetics Faces GST Demand of INR 4.39 Billion for FY 2021-24

JK Agri Genetics Ltd. has received an order from the GST Authority in the form of GST DRC-07, demanding a total of INR 4.39 billion for the financial years 2021-24. The order alleges non-payment of GST on freight outwards under RCM and on discarded materials, including process losses. The company, however, claims exemption on the payment of GST for seeds sold to farmers for sowing purposes. JK Agri Genetics Ltd. intends to file an appeal against the order before the Higher Authorities within the specified timeline.