Voltas gets Rs 265 crore show cause notice from GST authorities
announced on Wednesday that it has received a
show cause notice
from the
Central GST authorities
demanding an explanation for an alleged shortfall in tax payments totaling Rs 265.25 crore.
According to an exchange filing by the Tata-owned company, the notice pertains to the financial years 2018–19 to 2020–21 and relates to
Universal Comfort Products Limited
, which was merged into Voltas during the 2020–21 financial year.
"We would like to inform that a Show Cause Notice from the Office of the Principal Commissioner, Central GST Commissionerate, Dehradun, under the Central Goods and Services Tax Act, 2017 read with the Uttarakhand Goods and Services Tax Act, 2017 and the Integrated Goods and Service Tax Act, 2017 has been received alleging short payment of GST for the
financial years 2018-19 to 2020-21
by Universal Comfort Products Limited (which got merged with the Company during the financial year 2020-21)," the filing read.
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