Jubilant Agri receives ₹5.09 Cr GST Show Cause Notice
Jubilant Agri and Consumer Products Ltd has received a Show Cause Notice (SCN) from the Principal Commissioner – Central GST (Audit) Commissionerate, Ludhiana, proposing a GST demand of ₹5,09,04,134. The notice alleges a demand of 18% GST on an amount presumed to be turnover on which tax has not been paid, based on a memorandum GL named "Invoices to be Sent" for FY 2020-21 to FY 2023-24. The company believes the SCN is based on an incorrect understanding of facts and plans to file a detailed reply within the prescribed timelines. Jubilant Agri does not anticipate any financial implications from this notice.
Key Highlights
- Received GST Show Cause Notice for ₹5.09 Cr demand.
- Notice pertains to FY 2020-21 to FY 2023-24.
- Company believes notice is based on incorrect understanding.
- Detailed reply to be filed within prescribed timelines.
- No anticipated financial implications.
Price Impact
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