Deepak Fertilisers faces tax demand of ₹10.93 crores

Deepak Fertilisers and Petrochemicals Corporation Limited has received a tax demand of ₹10.93 crores from the Joint Commissioner of State Tax (Appeal) CT & GST Territorial Range, Bhubaneswar. 

This demand, including tax, interest, and penalty, pertains to the wholly-owned subsidiary of the company, Mahadhan AgriTech Limited, and is associated with a claimed credit in a Tran-1 filed under the Goods and Service Tax Act for the period from July 1, 2017, to March 31, 2018.

The company received the order on October 9, 2023, and it is of the view that the demand is not tenable and plans to challenge the order at the appropriate forum. According to Deepak Fertilisers, there will be no material impact on the financials, operations, or other activities of the company.