Voltas Limited announced that the company has received an Order from the Office of the Commercial Tax Officer, Pondy Bazaar, Chennai, demanding tax of INR 3.303 million, interest of INR 3.012 million and penalty of INR 0.33 million under Section 73 of the Central Goods and Services Tax Act, 2017, Tamil Nadu Goods and Services Tax Act, 2017 for the financial year 2018-19 for mismatch in input tax credit availed. The Company is in the process of filing an appeal against the said Order. There is no material impact on the financials, operations or other activities of the Company due to this penalty.
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