Akzo Nobel India Limited announced that further to the Notice (dated 28 December 2023) from the Chhattisgarh Commercial Tax Department, an order dated 20 February 2024 has been received by the company on 6 March 2024. As part of the Sales Tax Assessment for the fiscal year 2014-2015 under the Chhattisgarh Value Added Tax, 2015, the company received an Assessment Order (on 28 December 2023) from the Asst Commissioner, Chhattisgarh Commercial Tax Department mentioning an aggregate amount of INR 1,320,615 (comprising Tax INR 284,508, Interest INR 467,901 and Penalty INR 569,016) for the non-submission of `F' Forms. The company opted to close the case under the ongoing Amnesty Scheme in Chhattisgarh State and on applying thereunder, the company has received an Amnesty Order to remit an aggregate amount of INR 160,512 (comprising Tax: INR 113,803 and Interest: INR 46,709) while the penalty amount stands waived off). Pursuant to that, the company have remitted the aforesaid amount of INR 160,512 and the matter stands closed.
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