Akzo Nobel India Limited has received a Show Cause Notice under Section 73 of CGST ACT, 2017 mentioning the disallowance of ITC and tax due for the period from April 2020 to March 2021 aggregating to ₹ 17,86,203/-, according to the exchange filing.
The total demand comprises of Tax of ₹9,97,148/-, Interest of ₹6,71,813/- and Penalty of ₹1,17,242/-.
The company has received a show cause notice from the West Bengal GST Department.
The company is likely to contest the Show Cause Notice before the relevant authorities.
The Disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
