Jubilant FoodWorks Limited has received an order issued under Section 74 of the Central Goods and Service Tax (CGST) Act, 2017 read with Section 20 of Integrated Goods and Services Tax (IGST); Maharashtra Goods and Services Tax (MGST) Act, 2017 GST Authorities from Maharashtra have disallowed utilisation of eligible input tax credit against the output tax liability of IGST; CGST; State Goods and Services Tax (SGST) & Cess.
The Company received an Order under Section 74 of CGST Act, 2017 read with Section 20 of IGST & MGST Act, 2017 wherein the eligible GST credit amounting to ₹ 14,56,77,211/- with interest applicable has been disallowed and a Penalty of ₹ 14,56,77,211/- has been imposed.
The Indian food service company is set to challenge the order before an appropriate authority.”The Order passed has not considered the merits of submissions made by the Company and hence incorrect in law. Further, the Company has a good case on merits and hence, will challenge the said Order at Appellate forums,” said the Company in their regulatory filing.
