Commercial Taxes Dept Upholds 18 Percent GST Demand On United Spirits For Trademark Rights
Commercial Taxes Dept Upholds 18 Percent GST Demand On United Spirits For Trademark Rights
The order includes Rs.31.5 crore tax, Rs.3.2 crore penalty and interest
The Joint Commissioner of Commercial Taxes has upheld the demand for Goods and Service Tax (GST) at 18 percent on income received by United Spirits Limited for granting the right to use its trademarks, as opposed to the 12 percent applied previously.
The matter pertains to the GST from July to August 2017.
United Spirits claimed it did not expect any material financial implications based on the company's risk assessment and disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company plans to appeal the decision before the GST appellate tribunal.
