GST demand order of about Rs 5.96 cr from Chennai tax authority
COROMANDEL · price
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Coromandel International received a GST demand order from the Assistant Commissioner, Harbour Assessment Circle, Chennai. The order demands about Rs 3.4 cr in tax, Rs 2.22 cr in interest, and Rs 34 lakh in penalty, totaling around Rs 5.96 cr. The demand relates to alleged excess input tax credit, including import data that did not move from ICEGATE to GSTN portal (about Rs 3.2 cr) and ITC from cancelled or non filing suppliers (about Rs 18 lakh). The company says it has a strong case and will appeal, and that there is no material impact on its financials, operations, or other activities.
Amount is small relative to company size. Company will appeal, expects no material financial or operational impact.