Tax authorities drop Rs 266 cr demand notice from Dalmia Cement
image for illustrative purpose
New Delhi: The Tamil Nadu-based tax authority has dropped the demand of tax and penalties totalling Rs 266.3 crore from Dalmia Cement (Bharat) Ltd, a wholly-owned subsidiary of Dalmia Bharat, and there will be no financial impact on the company. Dalmia Bharat said in a regulatory filing that, Dalmia Cement (Bharat) Ltd, had earlier received show cause notices under Section 74 of the Central Goods and Services Tax Act, 2017, Tamil Nadu Goods and Services Tax Act, 2017, from the Sales Tax Officer, Lalgudi, Tiruchirapalli, Tamil Nadu. The show-cause notices pertained to "some differences observed in taxable turnover and amount of ITC for the AY 2019-20 and 2022-23. In the adjudication proceedings, the Department has dropped the proposed demand...," the filing added.
