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Akzo Nobel India Limited ( (IN:AKZOINDIA) ) just unveiled an announcement.
Akzo Nobel India Limited has updated the stock exchanges on the status of a tax dispute with the Karnataka GST Department regarding disallowance of input tax credit for the period April 2021 to March 2022. The company had earlier received a show cause notice raising a demand of about Rs 14.96 crore, but following its submissions and supporting documents, the Deputy Commissioner, Large Taxpayers Unit, Karnataka GST Department has now issued an order reducing the total demand to approximately Rs 2.46 crore, including tax, interest and penalty. The order remains open for further submissions, and Akzo Nobel India is in the process of responding within the stipulated timeframe, indicating that while the potential liability has been significantly reduced, the matter is not yet fully concluded and may still influence the company’s tax position until resolved.
More about Akzo Nobel India Limited
Akzo Nobel India Limited is a leading paints and coatings company operating in India, offering decorative and industrial coatings and related solutions. It serves a wide range of customers across construction, automotive, industrial and consumer segments, leveraging its global parent AkzoNobel’s technology and brand portfolio in the Indian market.
Average Trading Volume: 37,921
Technical Sentiment Signal: Buy
Current Market Cap: 142.4B INR
For a thorough assessment of AKZOINDIA stock, go to TipRanks’ Stock Analysis page.