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PATANJALI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Patanjali Foods Ltd received a Show Cause Notice (SCN) from Tamil Nadu GST authorities regarding alleged discrepancies in GST returns for April 2022 to February 2023. The authorities claim the company under-reported taxable turnover by Rs. 7,516.25 crores (Rs. 8,140.63 crores reported vs Rs. 15,656.88 crores in TDS returns) and propose a tax demand of Rs. 1,352.92 crores plus 18% interest and 10% penalty. The company strongly disputes these claims, stating it reported only Rs. 2,017.27 crores in GSTR-3B returns and that TDS returns show only Rs. 109.48 crores. The company had previously submitted detailed clarifications in 2023 but a change in officer led to this fresh SCN. The company is filing a detailed reply and believes the proceedings will be dropped.
This is a significant GST dispute amounting to Rs. 1,352.92 crores in proposed tax demand, but the company has denied all allegations and expects the matter to be resolved in its favor. Until the dispute is settled, there may be uncertainty around potential tax liabilities.