Tax & Penalty28 Jun 2026, 02:00 pm
JK Maxx Paints receives GST demand order; ₹49,512 confirmed
AI Summary
JK Maxx Paints Ltd, a wholly-owned subsidiary of JK Cement Ltd, has received an order from the Additional Commissioner of State Tax, Patna, concerning a GST demand related to Acro Paints Ltd (now amalgamated with JK Maxx Paints). The order drops a tax demand of ₹33,32,100 but confirms a demand of ₹49,512 along with applicable interest and a penalty of ₹20,000. The company disputes the confirmed demand, citing wrong availment of Input GST. JK Maxx Paints intends to file an appeal before the GSTAT, believing it has a strong case on merits. The company stated the order does not have a major financial impact.
Key Highlights
- JK Maxx Paints received GST demand order from Patna tax authorities.
- Confirmed tax demand is ₹49,512 plus interest and ₹20,000 penalty.
- Company disputes demand, citing input tax credit mismatch.
- Appeal to be filed; no major financial impact expected.
- Order relates to Acro Paints, now amalgamated with JK Maxx Paints.
Price Impact
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