ITC Disallowance and Tax Dues: AkzoNobel India Receives Rs. 46.4 Crores GST demand from State GST Depts

AkzoNobel India has received a ₹46.4 crore GST demand from state GST authorities, following an investigation into the company’s Input Tax Credit (ITC) claims. The demand arises from concerns over improper documentation or incorrect claims made by the company regarding GST refunds and credits. This case underscores the importance of accurate record-keeping and documentation for businesses under the GST regime. The demand highlights the growing scrutiny of corporate tax compliance and the rigorous enforcement of GST laws, particularly concerning ITC claims, which remain a sensitive and often contested issue for businesses.