India’s leading footwear maker Bata India has received a sales tax notice from the State Tax Officer, Chennai, for an amount of Rs 61 crore ($7.5 million).
The notice dated December 27, 2023, pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to a filing by Bata to the bourses.
The issues raised include differences in turnover on outward supplies in the monthly goods and services tax returns, differences in tax on outward supplies in the GSTR-9 & GSTR-9C returns, excess Input Tax Credit (ITC) availed, and ITC reversal on credit note.
“It is believed that the company has a good case to defend the matters without any material financial impact,” Bata India said.
Bata India has been given a personal hearing on January 10, 2024, to present its case and provide further information on the disputed issues.
Copyright © 2023 FashionNetwork.com All rights reserved.
