Kansai Nerolac Faces ₹10.4 Million Tax Penalty Amid Multiple GST Disputes

Kansai Nerolac Paints Ltd has been served a tax order commanding a ₹10.4 million penalty, further to a series of recent tax-related woes. The company is facing multiple GST disputes in various states, such as Maharashtra, Punjab, and Uttar Pradesh. These orders are mostly due to supposed short payment of tax and disallowance of input tax credit for the year 2020-21. Kansai Nerolac asserts that it has remitted proper taxes and holds concerned documents to corroborate its assertions. The company is going to appeal against these orders and seeks rectification wherever possible. Even with these tax concerns, Kansai Nerolac is claiming that there is no material effect on its financial activity or operations.
Source: Moneycontrol