Bata India has received a notice from the State Tax Office in Anna Salai Assessment Circle, Chennai which is reported to amount to ₹60.56 crore. The notice is dated December 27 and proposes a tax levy of INR 605.61 million and interest.
It is based on a final audit report from 2018-19 financial year. It highlights issues such as inconsistencies in turnover on outward supplies in GST returns, variations in tax on outward supplies in GSTR-9 & GSTR-9C returns, excess Input Tax Credit (ITC) availed, and ITC Reversal on credit notes.
The initial audit notice was received on April 27, 2023, and the company submitted relevant documents in response. In the next court hearing where Bata India is required to provide additional information on the mentioned issues. Despite the challenges, Bata India expresses confidence in defending the case. The company asserts it has a strong case to address the issues before the relevant authorities.
Bata India has expressed confidence in its capacity to contest the case before the relevant authorities. Furthermore, it claims that the company has nothing to hide and will address the matters with no significant financial impact.
Court Hearing for Bata India
The company has also received an audit notice on April 27, 2023, and promptly submitted the necessary documents in response. The company has been granted a personal hearing scheduled for January 10, 2024, to present its case and offer additional information regarding the contended issues as was outlined in the regulatory filing.
