New Delhi, January 31, 2025 – Umang Dairies Limited (BSE: 500231) announced that its appeal against a tax demand raised by the Joint Commissioner, Corporate Circle, State Tax, Moradabad, has been rejected by the Additional Commissioner (Grade-II) (Appeal), Moradabad, Uttar Pradesh.
Key Developments:
- The tax demand of ₹3.48 crore pertains to the period April 2019 to March 2020and includes:
- Short payment of tax: ₹1.74 crore
- Interest: ₹1.57 crore
- Penalty: ₹17.41 lakh
- The rejection order, dated January 30, 2025, states that the company availed excess Input Tax Credit (ITC) and did not comply with GST Act/Rules and higher appellate decisions.
- Umang Dairies received the order on January 30, 2025, at 8:10 p.m. and intends to appeal before the appropriate authority within the required timeline.
Impact on the Company:
- The company has assured that there is no material impact on its financials, operations, or other activities due to this ruling.
- Further updates will depend on the outcome of the next stage of legal proceedings.