Britannia Faces Rs 6.37 Crore GST Demand Notice

Britannia Industries is exploring legal options after receiving a GST demand notice for Rs 6.37 crore from the Thane CGST & Central Excise office. The notice pertains to alleged tax non-payment due to incorrect classification of goods from FY 2020-21 to 2023-24.

Britannia Industries has been slapped with a GST demand notice totaling Rs 6.37 crore, as reported in a company regulatory filing. The notice was issued by the Office of the Commissioner of CGST & Central Excise in Thane on Monday.

The demand stems from alleged non-payment of tax related to what the authorities categorized as 'incorrect classification' of goods supplied between the fiscal years 2020-21 to 2023-24. According to Britannia, this entails a tax amount of Rs 2,12,40,000 coupled with a penalty of Rs 4,24,80,000.

Despite the demand notice, Britannia Industries, famed for its brands like Good Day and MarieGold, stated that it does not foresee a material impact on its financial or operational landscape. The company is contemplating legal action and will pursue remedies under the GST law.