United Breweries hit with demand order worth Rs. 264.7 crore from Maharashtra GST dept
United Breweries Ltd (UBL) announced on Friday, April 5, that it had received a tax demand of over Rs. 263.70 crore, including interest and penalty from the Maharashtra State Goods & Service Tax (GST) Department.
In a regulatory filing to the stock exchanges, the Kingfisher Beer manufacturer said, "The Deputy Commissioner of State Tax, Raigad Division, Maharashtra State GST Department passed an order levying an additional tax of Rs. 1,19,82,34,560, interest of Rs. 1,15,03,04,218 and penalty of Rs. 28,86,97,379 -- totalling to Rs. 2,63,72,36,156 for FY 2019-20.''
UBL said the tax demand order passed by the GST department was for fiscal year 2019-20 (FY20). “Demand is also raised on account of non-submission of declaration forms for concessional rate of tax," added the liquor maker.
