Akzo Nobel India Limited received Notice (dated 31st December 2023) from the Karnataka GST Department, an order dated 28th April 2024 has been received on 29th April 2024. The details of any change in the status and /or any development in relation to such proceedings; company received a Show Cause Notice (SCN) from the Karnataka GST Department (dated 31st December 2023) during the GST Audit for the financial year 2018-2019 disallowing the Input Tax Credit (ITC) under the CGST/SGST Act, 2017, and containing a demand of INR 400,591,413/- including interest. To that, responded along with the supporting documents within the given time limit.

The Deputy Commissioner of State Tax, Karnataka GST Department reviewed reply and has issued an Order (dated 28th April 2024) thus dropping the demand of INR 389,517,014/- out of the total demand as mentioned in the aforesaid SCN. The final demand as per the aforesaid Order is INR 11,074,399/- (comprising Tax: INR 5,369,575/-; Interest: INR 5,167,866/-; and Penalty INR 536,958/). This Order is open for further submissions before the relevant authorities, and are in the process of responding within the stipulated time as mentioned in the said Order.