Guiltfree Industries Ltd., a food-focused FMCG firm under Sanjiv Goenka's RPSG Group, received a Rs 39.14 crore GST demand notice, the company said on Sunday.
Informing the bourses, the company said the show cause cum demand notice came from the Kolkata zone office. This notice amount also includes interest and penalties.
The tax notice was given due to the alleged misclassification of the products by the company.
The company said it is preparing an appropriate response to address the concerns raised in the show cause cum demand notice.
Guiltfree, part of the RPSG Group, ventured into the FMCG sector in 2017-18, focusing primarily on Western snacks.
Now, in a strategic move, Guiltfree Industries Ltd. has entered the fiercely competitive Indian ethnic snacks segment.
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