Vishal Mega Mart Ltd. Receives Order from Bengaluru Tax Authority
Vishal Mega Mart Limited announced it received an order from the Assistant Commissioner, LGSTO 38- Bengaluru, DGSTO-5, Bengaluru, Karnataka, on March 24, 2026.The order, issued under Section 74 of the CGST Act, 2017, alleges excess Input Tax Credit was availed and utilized by the company for the financial year 2019-20.
The financial impact of the order totals Rs. 71,85,432, encompassing a tax demand of Rs. 23,43,585, interest of Rs. 24,98,262, and a penalty of Rs. 23,43,585. Vishal Mega Mart Limited stated that the order will have no material impact on operations or other activities. The company is currently reviewing the order and considering its next steps.
Financial Impact Details:
| Particulars | Amount (Rs.) |
|---|---|
| Tax Demand | 23,43,585 |
| Interest | 24,98,262 |
| Penalty | 23,43,585 |
| Total | 71,85,432 |
Source:
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