Tax Department Demands Rs.4.7 Crore From Bharat Petroleum Over ITC Claim

Tax department demands Rs.4.7 crore from Bharat Petroleum over ITC claim

The company will challenge the order by appealing and making a pre-deposit of 10 percent of the amount

The Additional Commissioner of Kolkata, South has demanded Rs.4.7 crore from Bharat Petroleum Corporation Limited for incorrect Input Tax Credit (ITC) claims. It includes a basic demand of Rs.2,39,88,028 and a penalty of Rs.2,39,88,028.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015. While challenging the order, the company will deposit Rs.23.98 lacs before 20 April 2025.