Arvind Fashions Limited Receives Demand for Input Tax Credit
Arvind Fashions Limited announced that it received a demand for input tax credit (ITC) amounting to Rs. 5,40,75,947 from the I.R.S Joint Commissioner of Central Tax, Bengaluru North Commissionerate, Bengaluru. The demand, received on March 30, 2026, relates to assessment years 2019-2020 and 2020-2021.The demand includes Rs. 5,40,75,947 in IGST and concerns ITC availed in contravention of Section 16(2) of the CGST Act 2017, along with interest as per Section 50(3) of the CGST Act 2017. A penalty of Rs. 5,40,75,947 has also been imposed.
According to the company, the demand is not expected to have a financial or operational impact, as Arvind Fashions Limited intends to challenge the order in the appropriate forum. The company believes it has adequate grounds to support its position.
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