Sapphire Foods India (NSE:SAPPHIRE, BOM:543397) said it has received a demand order from the Deputy Commissioner of Commercial Taxes in Bengaluru, India seeking 8.1 million Indian rupees, including around 3.6 million rupees in interest and 416,000 rupees in penalties, according to a Tuesday filing with the BSE.
The demand pertains to the utilization of eligible input tax credit against central goods and services tax, or CGST, and state goods and services tax, or SGST, liabilities, the company said.
Sapphire Foods India said the claim is not maintainable and has no material impact on its financial or operational activities.
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