Announced Wed, 15 Jul · 17:09 IST
Nestle India receives Tripura VAT reassessment order worth around Rs 6.66 crore
Regulatory & Legal View source PDF
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AI summary
Nestle India has received a tax reassessment order from the Superintendent of Taxes in Agartala, Tripura under the Tripura VAT Act, 2004 and CST Act, 1956. The demand includes VAT of about Rs 3.41 crore, interest of about Rs 2.92 crore, and penalty of about Rs 34 lakh, totalling roughly Rs 6.66 crore. The company states there is no material impact on its financials, operations, or activities, and it plans to challenge the order.
Likely market impact
Total demand of about Rs 6.66 crore is small relative to Nestle's size; company says no material impact and will contest, so limited near-term effect on shares.