Jubilant FoodWorks Gets ₹46.9 Crore GST Demand Notice, Company To Challenge Claim
Jubilant FoodWorks has received a GST show cause notice proposing a demand of Rs 46.9 crore over alleged incorrect reversal of Input Tax Credit while filing GST returns. The quick-service restaurant operator said it will challenge the notice, stating that the department did not consider its submissions and that the issue has no financial impact.
Jubilant FoodWorks Gets ₹46.9 Crore GST Demand Notice, Company To Challenge Claim | X
New Delhi, Jul 14: Jubilant FoodWorks Ltd (JFL), India's leading quick-service restaurant chain operator, has received a GST demand notice for Rs 46.9 crore, according to a regulatory filing by the company.
JFL said it will challenge the GST department's notice.
The show cause notice alleges that the Input Tax Credit (ITC) has been reversed in the "incorrected table" while filing the GST return of JFL, said the flagship company of the Jubilant Bhartia Group.
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"The company has received a show cause notice (SCN) from the GST Department proposing a GST demand amounting to Rs 46,90,96,051," said JFL, which has franchise rights for global QSR (quick-service restaurant) brands such as Domino's and Popeyes.
The Bhartia family-promoted firm said it "believes that the SCN issued has not considered the merits" of the submissions filed by the company.
"The company is in the process of filing detailed objections within the stipulated timelines as per the SCN. Post such filings, the impugned SCN and proposed demand is likely to be dropped," it said.
JFL also said that the "alleged wrong presentation/classification of ITC reversal" has "no financial impact" on the company.
JFL received the show cause notice on July 13.
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