R&B Denims Ltd. Secures Victory in Tax Appeal, Penalty Set Aside

R&B Denims Ltd. Secures Victory in Tax Appeal, Penalty Set Aside​

R&B Denims Ltd. announced that an appeal it filed against a tax order has been decided in its favor, resulting in the setting aside of a penalty. The company had previously been assessed a penalty of Rs. 43,66,118 by the Assistant Commissioner of Central Goods and Services Tax, Gujarat, related to the availment of Input Tax Credit (ITC).

The company reported that it does not anticipate any financial impact as a result of the resolution. The appeal was made before the appropriate appellate authority.

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