Aditya Birla Fashion and Retail Ltd (ABFRL) received a tax demand order totaling ₹137.7 million from authorities, related to GST or income tax discrepancies. The company plans to challenge the order, maintaining it has strong grounds for appeal while ensuring no material impact on operations or finances.
Aditya Birla Fashion and Retail Ltd, a leading player in India's apparel and lifestyle sector, disclosed receiving a total tax demand order amounting to ₹137.7 million. The notice stems from assessments covering prior periods, likely involving input tax credits or transfer pricing issues common in the retail industry.
ABFRL has stated its intent to file an appeal against the order, citing robust documentation and precedents. Such demands are routine in corporate filings and rarely result in full payments after adjudication, allowing the company to focus on its growth trajectory amid expanding retail footprints.
Key Highlights:
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Tax Demand: ₹137.7 million (₹13.77 crore) total order issued.
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Company Response: Plans to appeal with strong legal grounds.
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No Material Impact: Operations and finances remain unaffected.
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Context: Routine tax assessment for retail sector discrepancies
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Investor Note: Shares stable; appeals often reduce or reverse demands.
Sources: BSE filing, Exchange disclosure, Moneycontrol, Economic Times.