Tax & Penalty26 Jun 2026, 08:30 pm
Sapphire Foods Wins ₹977.06 Million Tax Dispute
AI Summary
Sapphire Foods India Limited has received a favorable order from the Assistant Commissioner regarding show cause notices totaling INR 977.06 million under the Tamil Nadu SGST Act 2017. The notices pertained to the periods April 2022-March 2023 and April 2023-March 2024. The Assistant Commissioner (Appeals) ruled that the company had not excessively availed input tax credit and had correctly claimed eligible credits. Consequently, the demand of INR 977.06 million has been dismissed, resolving a significant tax dispute for the company.
Key Highlights
- Sapphire Foods India wins tax dispute worth ₹977.06 million.
- Dispute involved input tax credit claims for FY23 and FY24.
- Assistant Commissioner ruled in favor of the company.
- Demand of ₹977.06 million has been dismissed.
- This resolves a major tax litigation for Sapphire Foods.
Price Impact
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