Footwear major Bata India has been served a notice by the State Tax Officer, Anna Salai Assessment Circle, Chennai, with an amount of INR 60.56 crore, as indicated in a filing to the bourses on Thursday. The notice, dated December 27, 2023, relates to various issues highlighted in a final audit report on December 25 for the financial year 2018-19, as per the filing.
The raised concerns encompass disparities in turnover on outward supplies in the monthly GST returns, variations in tax on outward supplies in the GSTR-9 & GSTR-9C returns, excessive availing of Input Tax Credit (ITC), and ITC Reversal on credit note.
The company stated that it initially received an audit notice on April 27, 2023, and promptly submitted pertinent documents in reply.
Bata India underwent a personal hearing on January 10, 2024, to present its case and furnish additional information on the contested issues, as outlined in the filing.
The company conveyed its assurance in its capability to present a robust defense in the matter before the relevant authorities.
“It is believed that the company has a good case to defend the matters without any material financial impact,” Bata India said.
