Homegrown fast-moving consumer goods (FMCG) major Dabur India gets a notice to pay Goods and Services Tax (GST) of Rs 321 crore, along with interest and penalty, the company informed the exchanges on Tuesday, October 17.
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FMCG giant said that there will be no impact on financial, operation or other activities of the company due to this intimation of tax being payable. "The impact will be limited to the extent of final tax liability as may be ascertained along with interest and penalty, if any," it said.
"The company has received intimation of tax ascertained as being payable...wherein GST short paid / notpaid amounting to Rs 3,20,60,53,069/- has been advised to be paid by the company along with the amount of applicable interest and penalty," according to the filing.
Dabur also said that it will challenge the same based on strong merits by way of filing its reply and submissions, before the relevant authorities.
The company will release its second quarter (Q2FY24) results on November 2, 2023. The FMCG giant on August 3 reported a consolidated net profit of Rs 456.61 crore for the first quarter of FY24, registering a growth of 3.52% YoY.
Its total income in the June quarter rose by 10.85% to Rs 3,240.25 crore, compared to Rs 2,922.98 crore YoY. On a sequential basis, the total income was up 15.78%.
Shares of Dabur India Ltd settled 0.61% higher at Rs 540.20 apiece on the NSE in today's trade. The scrip has dipped 3.80% since the beginning of this year, while it has gained just 1.67% in the last one year.
First Published: Oct 17, 2023 3:34 PM IST
