img

News Topical, Digital Desk : Paint and coatings manufacturer Akzo Nobel India Ltd on Thursday (January 1) said it has received an order from the Karnataka GST department to revise pending tax demands for the financial year 2018-19. The company said the matter relates to a show-cause notice issued by the Karnataka GST department on June 27, 2025, in which a total demand of ₹176.65 crore was placed. Earlier, on June 27, 2025, the Karnataka GST department had issued a notice for disallowance of Input Tax Credit (ITC) under Section 74 of the CGST/SGST Act, 2017 for the period April 2018 to March 2019, with a total demand of ₹17.66 crore. This demand included ₹5.65 crore tax, ₹6.36 crore interest and ₹5.65 crore penalty.

Revised demand ₹41.56 lakh After the company submitted its reply along with supporting documents, the Assistant Commissioner of Commercial Taxes, LGSTO LTU, Large Taxpayers Unit, Bengaluru reviewed the matter and issued an order on December 30, 2025, which the company received on January 1, 2026. The revised demand now stands at ₹41.56 lakh, which includes tax of ₹12.90 lakh, interest of ₹15.77 lakh and penalty of ₹12.90 lakh. 

Share Performance The company's stock closed at ₹3,180 on Thursday, up 0.085 percent. The company's stock has declined by 10.76 percent in the last one year. 


Read More: The country's GST collection increased by 6.1% in December 2025, bringing Rs 1.74 lakh crore to the government treasury.

--Advertisement--

Karnataka GST GST Order input tax credit ITC Dispute CGST Act 2017 SGST Act Section 74 tax demand GST Penalty GST Interest Large Taxpayers Unit Bangalore GST corporate filing