Nuvoco Vistas Corporation Ltd Faces Rs.104.76 Crores Tax Demand from Joint Commissioner, CGST & Central Excise, Raipur

Nuvoco Vistas Corporation Ltd has received an order from the Joint Commissioner, CGST & Central Excise, Raipur, imposing a tax demand of Rs.104.76 crores for the period from FY 2019 - 20 to September 2024 of FY 2024-25. The order partially accepts the company's contentions but reiterates certain allegations from the show cause notice. The dispute revolves around the invoicing by the Carrying and Forwarding Agents (C&FA) appointed by the Company, which the tax adjudicating authority assumes is without supply of cement. The company plans to challenge this order based on legal advice, asserting that they have sufficient evidence to prove the genuineness of the transactions and that the demand and penalty are unsustainable in law.