Akzo Nobel India Ltd. informed the exchanges on Thursday, September 25, that it has received a show cause notice from the Bihar GST Department following an audit for the period April 2021 to March 2022.
The notice, issued under Section 73 of the CGST Act, disallows input tax credit (ITC) worth ₹4.79 lakh, along with interest of ₹2.95 lakh and a penalty of ₹47,954, aggregating to a total demand of ₹8.22 lakh.
The company said it is in the process of responding to the notice within the stipulated time and emphasized that the matter is still open for further submissions before the relevant authorities.
Management clarified that since the current communication is only a show cause notice, no final liability has been established at this stage.
