FMCG major Dabur has received a notice from the GST authorities to pay Rs 320.60 crore as tax along with the applicable penalty and interest on the amount, the company stated in a regulatory filing on Tuesday.
The demand notice, issued by the Gurugram Zonal Unit of the Directorate General of GST Intelligence (DGGI) on October 16, states that if the company fails to pay the tax a show-cause notice would be issued.
“The company will challenge the same based on strong merits by way of filing its reply/submissions before the relevant authorities,” Dabur further noted.
The company said that the tax demand notice will have no major impact on the financial, operation or other activities of the company. “The impact will be limited to the extent of final tax liability as may be ascertained along with interest and penalty, if any,” it added.
The regulatory filing about the GST demand notice was filed by Dabur just before the stock market closed. The company’s shares closed at Rs 540.60 apiece on the BSE at the end of the day.