Quick Summary
Patanjali Foods, the renowned firm led by yoga guru Ramdev, finds itself under the radar of the GST intelligence department. The recent issuance of a show cause notice has stirred discussions as it questions the legitimacy of an input tax credit valued at ₹27.46 crore. According to a regulatory disclosure by the company on April 26, the Directorate General of GST Intelligence, Chandigarh Zonal Unit, served the notice to Patanjali Foods, delving into the intricacies of tax credit utilization.
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FAQ :
Patanjali Foods has received a show cause notice from the GST intelligence department regarding an input tax credit of ₹27.46 crore.
The Directorate General of GST Intelligence, Chandigarh Zonal Unit, issued the show cause notice.
The company has stated that it will take all necessary actions to defend its case before the authority.
The financial implications remain uncertain until the conclusion of the proceedings, but the outcome could potentially impact the company's financial landscape.
The notice is based on Section 74 and other relevant provisions of the Central Goods and Services Act, 2017, the Uttarakhand State Goods and Services Act, 2017, and Section 20 of the Integrated Goods and Services Tax Act, 2017.
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