The Footwear Brand Bata India received a sales tax notice amounting to Rs 60.56 crores.
The notice pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to the filing. The issues raised include differences in turnover on outward supplies in the monthly GST returns, differences in tax on outward supplies in the GSTR-9 & GSTR-9C returns, excess Input Tax Credit (ITC) availed, and ITC Reversal on credit note.
Shares of Bata India were trading in the red and 1% lower on 28 December after the company announced in a filing that it had received a notice amounting to Rs 60.56 crore from the State Tax Officer at the Anna Salai Assessment Circle in Chennai.
In its regulatory filing, the company said that the notice dated 27 December 2023 relates to a number of issues brought up in a final audit report on 25 December 25 for the 2018–19 fiscal year.
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