United Breweries Receives Tax Demand Of Over Rs 263.70 Crore
NDTV
In a regulatory filing, the company said the Deputy Commissioner of State Tax, Raigad Division, Maharashtra State Goods & Service Tax Department passed an order levying an additional tax of Rs 1,19,82,34,560.
United Breweries Ltd on Friday said it has received a tax demand of over Rs 263.70 crore, including interest and penalty from the Maharashtra State Goods & Service Tax Department.
In a regulatory filing, the company said the Deputy Commissioner of State Tax, Raigad Division, Maharashtra State Goods & Service Tax Department passed an order levying an additional tax of Rs 1,19,82,34,560, interest of Rs 1,15,03,04,218 and penalty of Rs 28,86,97,379 -- totaling to Rs 2,63,72,36,156 for FY 2019-20.
"The demand order has been raised on account of levy of 60 percent CST on debit notes raised by UBL on Telangana State Beverage Corporation (TSBCL), Karnataka State Beverage Corporation (KSBCL), Andhra Pradesh State Beverage Corporation (APBCL) for reimbursement of state excise duties paid on behalf of State Beverage Corporations for the period April 2019 to March 2020," United Breweries Ltd (UBL) said.
