“Patanjali Foods, Led by Yoga Guru Ramdev, Receives Show Cause Notice Regarding Unsettled GST Payments”
Patanjali Foods, a subsidiary of the Ramdev-led Patanjali Ayurved Group, has been served a show cause notice by the Directorate General of GST Intelligence, Chandigarh Zonal Unit. The notice, issued on April 26 and disclosed in a regulatory filing by the company, pertains to unpaid GST dues amounting to ₹27.46 crore.
Patanjali Foods, a subsidiary of the Ramdev-led Patanjali Ayurved Group, has been served a show cause notice by the Directorate General of GST Intelligence, Chandigarh Zonal Unit. The notice, issued on April 26 and disclosed in a regulatory filing by the company, pertains to unpaid GST dues amounting to ₹27.46 crore.
The notice, citing provisions from the Central Goods and Services Act, 2017 and Uttarakhand State Goods and Services Act, 2017, along with the Integrated Goods and Services Tax (IGST) Act, 2017, demands an explanation from Patanjali Foods regarding the recovery of input tax credit.
In response, Patanjali Foods stated that it is prepared to defend its case before the authorities but mentioned that the financial implications of the notice cannot be determined until the proceedings are complete.
This development comes amidst other strategic discussions within Patanjali Foods, including the evaluation of a proposal to acquire the non-food business of its parent company, Patanjali Ayurved Ltd. Patanjali Foods, formerly known as Ruchi Soya Industries Ltd, is a significant player in the FMCG sector, operating in edible oils, food, FMCG, and wind power generation segments under brands like Patanjali, Ruchi Gold, and Nutrela.
The company’s acquisition by Patanjali Ayurved through the insolvency process has led to its rebranding as Patanjali Foods Ltd. As the legal proceedings unfold, Patanjali Foods continues its operations in the competitive FMCG market, navigating both regulatory challenges and strategic business decisions.
Sources By Agencies
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