Subsidiary RCCPL gets Rs 10.3 cr GST show cause notice from Nagpur authorities
BIRLACORPN · price
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RCCPL Private Limited, wholly owned material subsidiary of Birla Corporation, received a demand cum show cause notice from the Joint Commissioner, CGST and Central Excise, Nagpur-I Commissionerate. The notice alleges wrongful availment of Input Tax Credit of about Rs 10.30 crore for FY 2020-21 and 2022-23, plus equivalent penalty and interest. Company says the notice has no merit, is not maintainable, and has no impact on RCCPL operations or finances. RCCPL won a similar matter earlier and will submit its reply within the deadline.
Limited near-term impact. Company disputes the demand. Watch outcome of reply and any further escalation.