February 22, 2025 – Skipper Limited (NSE: SKIPPER, BSE: 538562) has disclosed that the Office of the Deputy Commissioner, Business Audit Wing-III Circle-B, Jaipur, Rajasthan, has issued an order under Section 73 of the CGST/RGST Act, 2017, imposing a penalty of ₹1,22,53,555 related to excess Input Tax Credit (ITC) claimed in FY 2020-21.
Key Order Details:
- Issuing Authority: Commercial Taxes Department, Jaipur, Rajasthan
- Order Reference: DRC-07, issued on February 21, 2025
- Total Amount Levied: ₹1,22,53,555, including:
- Tax: ₹15,85,761
- Interest: ₹1,04,82,039
- Penalty: ₹1,85,755
Impact & Next Steps:
- The company intends to file an appeal within the stipulated timeframe.
- While the immediate financial impact is quantified, the operational implications remain subject to legal proceedings.