Bayers Cropscience Ltd. has received a tax demand of approximately Rs 1.71 crore from the GST Authority in Jaipur.
The order is related to "transitional credit which was claimed by the company at the time of transition from pre-GST regime to GST regime," according to the exchange filing.
The company is charged with a tax amount of Rs 85.5 lakh along with a penalty of Rs 85.5 lakh. It will also file an appeal "as it believes that it has strong merits to challenge the order," the filing said.
Shares of Bayers Cropscience closed 0.02% higher at Rs 5,357.30 apiece, as compared with a 0.21% fall in the benchmark BSE Sensex.
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