Bata India Gets Rs 60 Crore Sales Tax Notice
The notice pertains to several issues raised in a final audit report on Dec. 25, for the 2018-19 financial year.
Footwear major Bata India has received a notice from the State Tax Officer, Anna Salai Assessment Circle, Chennai, amounting to Rs 60.56 crore, the company said in a filing to the bourses on Thursday.
The notice dated Dec. 27, 2023, pertains to several issues raised in a final audit report on Dec. 25, for the 2018-19 financial year, according to the filing.
The issues raised include differences in turnover on outward supplies in the monthly GST returns, differences in tax on outward supplies in the GSTR-9 & GSTR-9C returns, excess Input Tax Credit availed, and ITC Reversal on credit note.
The company said it initially received an audit notice on April 27, 2023, and submitted relevant documents in response.
Bata India was given a personal hearing on Jan. 10, 2024, to present its case and provide further information on the disputed issues, as per the filing.
The company expressed confidence in its ability to defend the case before the authorities concerned.
"It is believed that the company has a good case to defend the matters without any material financial impact," Bata India said.