Sapphire Foods: Litigation Demand Rises to ₹43.89 Million

Sapphire Foods India Limited has informed the exchange about a rectified order in a Goods and Services Tax (GST) litigation. Previously, the company had received an appeal dismissal order amounting to INR 30.74 million for the period April 2019 to March 2020. However, the Joint Commissioner, Commercial Tax Department, Karnataka, has now issued a rectified order confirming a revised demand of INR 43.89 million. This includes tax of INR 17.38 million, recomputed interest of INR 24.72 million, and a penalty of INR 1.74 million. The original order had disallowed the utilization of eligible input tax credit post-November 14, 2017. The company has stated that proceedings against key management personnel or its promoter are not applicable, and there has been no settlement.