GST penalty of Rs 63.32 lakh imposed; company to appeal
PATANJALI · price
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Patanjali Foods received a penalty order from the Commissioner of Central Excise and Central Tax, Mangalore for non-reversal of Input Tax Credit (ITC) under the CGST Act. The penalty amount is Rs 63.32 lakh. The company says there is no material impact on financials or operations except this amount. Patanjali is filing an appeal against the order.
Small penalty with no material impact. Company is appealing, so final outcome is pending. Minimal effect on shareholders.