Quick Summary
On Thursday, August 29, 2024, state-owned Shipping Corporation of India Ltd (SCI) announced it had received a significant demand order from the Deputy Commissioner of State Tax in Mumbai, amounting to ₹160.37 crore. This order, dated August 28, 2024, stems from discrepancies in the input tax credit
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FAQ :
The total GST demand against the Shipping Corporation of India is ₹160.37 crore.
The demand is due to discrepancies in the input tax credit reported and differences in turnover as reflected in the company's GST returns for the financial year 2019-20.
The demand order includes ₹77.66 crore in tax, along with additional interest and penalties.
SCI is preparing to file an appeal before the Joint Commissioner of State Tax (Appeals).
No, SCI strongly believes the demand is unjustified and expects no material financial impact from this dispute.
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