Cochin Minerals and Rutile Limited has received a Show-Cause Notice from tax authorities, which is disclosed pursuant to Regulation 30 of SEBI Listing Regulations.
Authority Details
- Name: Commissioner (Audit), Audit Additional Commissionerate, Kochi
- Jurisdiction: Central Tax & Central Excise
Nature of Action
The Show-Cause Notice was issued under:
- Section 74 of the CGST Act, 2017
- Section 20 of the IGST Act, 2017
- Corresponding provisions of the KGST Act, 2017
Period Under Dispute
The notice covers financial years 2020-21 to 2023-24.
Alleged Violation
The authority is disputing the HSN classification of products for periods prior to the Advanced Ruling obtained by the company.
Financial Amount Involved
The tax demand amounts to ₹120.26 crores.
Financial Impact Assessment
The company states: "At present, company is not expecting any impact."