Nestle India Receives GST Order-in-Appeal for FY 2017-20
Nestlé India received a GST Order-in-Appeal for FY 2017-20. The order confirms a reduced tax liability of ₹1.30 crore, applicable interest, and a penalty of ₹12.97 lakh. The company finds no material financial impact and plans to challenge the order.
The company explicitly stated that there is no material impact on its financials, operations, or other activities due to this order. While there is a confirmed liability and penalty, the amounts are not significant enough to materially affect the company's overall financial health.
The company received an order with a tax liability and penalty, which is a negative development. However, the company stated there is no material impact and plans to challenge the order, indicating a neutral stance as the outcome is uncertain and the immediate financial impact is deemed negligible.
Nestlé India Limited has received an Order-in-Appeal from the Office of the Principal Commissioner of GST and Central Excise (Appeals – II) in Chennai for the tax period 2017-2020. The order, passed under Section 73 of the Central Goods and Services Tax Act, 2017, partially allows the appeal. The Appellate Authority has confirmed a reduced tax liability under the CGST/SGST Act, 2017, amounting to ₹1,29,69,981, along with applicable interest and a reduced penalty of ₹12,96,998.
Nestlé India stated that there is no material impact on the company's financials, operations, or other activities due to this order. The company intends to explore various options to challenge the mentioned order. This communication follows a previous letter dated 28th December 2023 regarding the initial order from the GST Department, Tamil Nadu.
What to do with a filing like this
Nestle India Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Nestle India Limited. Read the original for the full detail.