GST demand of Rs 4.83 lakh plus penalty set aside in company's favor
MAWANASUG · price
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Mawana Sugars won its GST appeal. The Commissioner (Appeals), Central GST, Meerut, set aside the demand of Rs 4,82,792 in Input Tax Credit plus an equal penalty of Rs 4,82,792 and interest that had been raised against the company's Mawana unit for alleged wrongful ITC claims. The authorities accepted the company's contentions and held the allegation was not sustainable on the facts and evidence.
Positive for shareholders. Tax demand of around Rs 9.65 lakh plus interest fully overturned, with no financial liability arising.