Akzo Nobel India Limited has received a Demand Order levying a penalty of ₹ 9,89,064/- u/s 129(3) of the SGST Act/Rules, 2017 on account of a discrepancy in an E-Waybill and Invoice.
The demand order relates to ₹ 9,89,064/- (Tax – Nil, Interest – Nil and Penalty ₹ 9,89,064/-) as per the discrepancy in the E-way bill.
Akzo Nobel is likely to respond to the demand order in the stipulated time. “This Order/Notice is open for further submissions before the relevant authorities and the Company is in the process of responding within the stipulated time as mentioned therein,” Akzo Nobel said in an exchange filing.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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