Britannia Industries has informed stock exchanges about receiving a substantial GST order from the Chennai North Commissionerate, demanding ₹108.50 crores in tax along with equivalent penalty. The company disclosed this development through a regulatory filing on January 1, pursuant to SEBI Listing Regulations.

GST Order Details

The order was issued by the Additional Commissioner of CGST & Central Excise, Chennai North Commissionerate, under Section 74 of the Central Goods and Services Tax Act, 2017. The company received the order through a system-generated email on December 31, 2025, at 10:28 PM IST after it was uploaded on the GST Portal.

Alleged Violations

The GST order spans six financial years from FY 2018-19 till FY 2023-24, with authorities alleging incorrect availment of Input Tax Credit. The total tax demanded amounts to ₹108.50 crores, accompanied by an equivalent penalty and applicable interest charges.

Company's Response and Market Impact

Britannia Industries has stated that the order will not significantly impact the company's financials, operations, or other activities. The company emphasized that the order is appealable and confirmed its intention to take necessary actions, including exercising legal remedies available under GST law.

Shares of Britannia Industries ended at ₹5,999.00, declining by ₹32.00 or 0.53% on the trading session following the disclosure.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The intimation was signed by T. V. Thulsidass, Company Secretary of Britannia Industries Limited. The company has requested stock exchanges to take the information on record as part of its regulatory obligations.

Britannia Industries has received a fresh GST order under Section 74 of the Central Goods and Services Tax Act, 2017, with a significantly higher total demand of ₹48,59,912. The company disclosed this latest development through an intimation to stock exchanges on December 31, 2025, pursuant to SEBI Listing Regulations.

Latest GST Order Details

The new order was issued by the Office of the Assistant Commissioner GST & Central Excise, Bhubaneshwar-II division, Bhubaneshwar. This represents a separate GST matter from the company's earlier Delhi-based order. The company received this order through a system-generated email on December 30, 2025, at 10:11 P.M. IST after it was uploaded on the GST Portal.

Financial Breakdown of New Order

The GST order alleges incorrect availment of Input Tax Credit by the company for the financial year 2019-20. The financial implications of this latest order are substantially higher than the previous Delhi order:

Company's Response and Impact Assessment

Britannia Industries has maintained that there is no material impact on the company's financials, operations, or other activities due to this GST order. The company emphasized that this order is also appealable under the GST law framework.

The company plans to take necessary actions, including exercising the legal remedies available under GST law to address this matter. This indicates the company's consistent approach to challenge such orders through appropriate legal channels.

Multiple GST Proceedings

With this latest disclosure, Britannia Industries now faces GST demands from multiple authorities. The company had previously received a GST order from Delhi authorities with a demand of ₹12,99,284, and now faces this additional demand of ₹48,59,912 from Bhubaneshwar authorities, bringing the total GST demands to over ₹61 lakh across different jurisdictions.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation follows the requirements outlined in the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring transparency with stakeholders regarding regulatory developments.