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Britannia Industries Ltd ( (IN:BRITANNIA) ) has provided an update.
Britannia Industries Ltd has disclosed that it received an order from the Assistant Commissioner of GST & Central Excise, Bhubaneshwar-II division, relating to alleged incorrect availment of input tax credit for the financial year 2018-19 under Section 74 of the Central Goods and Services Tax Act, 2017. The order quantifies tax and penalty of Rs. 24.15 lakh each, aggregating to a total demand of Rs. 48.30 lakh, which the company has stated will not have a material impact on its financials, operations or other activities, and it plans to pursue available legal remedies including an appeal under the GST framework.
More about Britannia Industries Ltd
Britannia Industries Ltd is a leading Indian fast-moving consumer goods company best known for its biscuits, dairy products and other packaged foods, with a significant presence in the domestic branded foods market and listings on both BSE and NSE.
Average Trading Volume: 21,185
Technical Sentiment Signal: Strong Buy
Current Market Cap: 1455.6B INR
For detailed information about BRITANNIA stock, go to TipRanks’ Stock Analysis page.