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Petronet LNG receives GST Bill of over Rs 40 million, calls tax demand unjustified
Petronet LNG has received a tax demand of over Rs 40 million from the Department of Goods and Service Tax, New Delhi, the company said in a filing dated August 14.
The alleged violations include under-declaration of outward supplies and claiming input tax credit on supplies from GST identification cancelled dealer and from those who don’t pay taxes. The company has said that the demand and penalties are unjustified and that it will seek legal recourse.
The filing stated: “The Company has received an order u/s Section 73 of the Goods & Services Tax Act, 2017 raising a tax demand amounting to INR 4,08,93,486/- (including penalty of INR 21,21,032 and interest as applicable) for FY 2019-20.”
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