Bombay Dyeing Receives GST Demand Notice Over Flat Sales Charges and Input Tax Credit Reversal
The Bombay Dyeing & Manufacturing Company Limited has received a Demand-cum-Show Cause Notice (SCN) from the Assistant Commissioner of State Tax regarding tax liabilities related to infrastructure charges and input tax credit reversal concerning flat sales.The notice, received by the company on August 21, 2026, pertains to GST demand under Section 74 of the CGST Act & MGST 2017 for the Financial Year 2020-21. The dispute involves infrastructure charges received during the sale of flats and interest calculations related to the late reversal of input tax credit subsequent to the issuance of Occupation Certificates.
The SCN raised by the GST Authority includes various components related to this transaction, amounting to a total liability.
Key financial details of the demand are detailed below:
| Particulars | Amount (INR) |
|---|---|
| GST Payable | 1,52,25,088/- |
| Interest | 1,79,69,596/- |
| Penalty | 1,52,25,088/- |
| Total Amount Raised in SCN | 4,84,19,772/- |
The company confirmed that it had paid the GST liability amounting to Rs. 1,52,25,088/- under protest. Consequently, the remaining balance of the demand, which pertains to interest and penalty, stands at Rs. 3,31,94,684/-.
The company stated that this tax matter has no impact on its overall operations or activities, aside from the financial implications outlined above. Management confirmed that necessary replies will be filed with the adjudicating authority within the stipulated timeline.
BOMDYEING Stock Price Movement
Shares of Bombay Dyeing & Mfg Company Limited slipped by 1.03% on Friday, settling at ₹111.65 after trading was concluded. The stock saw a volume of 364,198 shares during the session, reflecting the decline from its previous close of ₹112.6.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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