Golden Tobacco gets Rs. 121.55 cr tax demand

Golden Tobacco Ltd has announced that the Office of Deputy Commissioner of Central Excise, Guwahati-781005 (ASSAM) vide its letter dated December 08, 2015 in the matter of North East Tobacco Co. Ltd. (NETCO) has issued a Demand Notice to the Company for Rs. 121.55 Crores.

Golden Tobacco Ltd has announced that the Office of Deputy Commissioner of Central Excise, Guwahati-781005 (ASSAM) vide its letter dated December 08, 2015 in the matter of North East Tobacco Co. Ltd. (NETCO) has issued a Demand Notice to the Company for Rs. 121.55 Crores which is recoverable from NETCO only. As per legal opinion, this is not the liability of Golden Tobacco Ltd. 

The Company is in the process of taking appropriate legal action in this regard.