India, March 4 -- GST authorities have issued a demand notice of INR 6.37 crore to Britannia Industries, and the company is exploring legal remedies.The bakery food company received the order from the Office of the Commissioner of CGST & Central Excise, Thane, on Monday, according to a regulatory filing from the company.

The order has been passed under Section 74 of the GST Act for FY 2020-21 to FY 2023-24, alleging non-payment of tax due to "incorrect classification" of goods supplied."The tax and penalty

quantified in the order amount to INR 2,12,40,000 and INR 4,24,80,000 respectively, totalling to a demand of INR 6,37,20,000 in addition to the applicable interest," Britannia said.However, this will have "no material impact on the fi...