Mukka Proteins contests ₹141.06 crore GST demand

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AI summary

Mukka Proteins received a GST demand of about ₹141.06 crore for FY 2021-22 from the tax authority in Porbandar, Gujarat, including tax, interest, penalty and late fees. After reviewing the demand and seeking legal advice, the company says key facts are incorrect, all GST dues were paid, and it will contest the demand. It expects no material impact on its finances or operations.

Likely market impact

The company expects no material impact, but the disputed amount creates legal and financial uncertainty until the tax proceedings are resolved.