Brief by Shorts91 Newsdesk / 07:32am on 30 Apr 2024,Tuesday India
Patanjali Foods by Yoga guru Ramdev, is under scrutiny as the GST intelligence department serves a show cause notice. The notice demands an explanation for a hefty ₹27.46 crore input tax credit. Filed by the Directorate General of GST Intelligence, Chandigarh, the notice targets the company and its officials. Citing relevant sections of GST laws, the department questions the credit under the Central and State Goods and Services Acts, along with the Integrated GST Act. Patanjali, primarily operating in edible oils, disclosed the notice in a regulatory filing on April 26. The notice requires the company to justify the credit, alongside potential interest and penalties.
