UBL said it believed there were “good reasons to defend this issue”. (representative)

New Delhi:

United Breweries Ltd on Friday said it has received a tax demand of over Rs 263.7 crore, including interest and penalty, from the Maharashtra Goods and Services Tax Department.

The Deputy Commissioner of State Excise, Raigad Division, Maharashtra Goods and Services Tax Department passed an order imposing additional tax of Rs 1,19,82,34,560 with interest, the company said in a regulatory filing. of Rs 1,15,03, Rs 04,218 and penalty of Rs 28,86,97,379 – a total of Rs 2,63,72,36,156 for the financial year 2019-20.

“The demand order was filed because UBL imposed 60% CST on the borrowers of Telangana State Beverage Corporation (TSBCL), Karnataka State Beverage Corporation (KSBCL), Andhra Pradesh State Beverage Corporation (APBCL) to repay the state debt. United Breweries Limited The company (UBL) said it paid excise duty on behalf of the National Beverage Company between April 2019 and March 2020.

The demand was also made due to non-filing of concessional rate returns, it added.

UBL said it believed there were “sufficient grounds to defend the issue before the relevant appellate authority and does not expect any financial impact on the company, other than the minimum statutory advance deposit required to be made on admission to the company”. appeal”.

“In a similarly high appeal in 2018-19, the company had made a demand of Rs 275 crore,” it recalled.

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