Adani Wilmar Group Raid: The company has released an official statement on raid and GST violations allegations saying that it was a regular inspection and officials didn't find any irregularities
In the latest development in the Adani Wilmar Group raid at a Himachal Pradesh Depot Warehouse is the company's official statement. As per updates, Adani Wilmar has responded to the news of GST allegations related raid and said that it was a regular inspection by the officials.
Adani Wilmar in its official statement has also clarified that the GST officials who paid a visit to the warehouse in Himachal Pradesh did not find any irregularities in the operations and dealings of the company. The Adani Group-led company also reasoned the same by saying that under Rule 86B of the GST law, the company is not required to pay tax liability in cash.
The official statement reads, "The officials did not find any irregularities in the operations and dealings conducted by the company. We would like to clarify that the concerns specific to GST payments in cash, citing GST law under Rule 86B, the company is not required to pay tax liability in cash......We would like to emphasise that this was a routine inspection carried out by the relevant authorities and there was no raid as previously stated or reported in the media."
Further citing its aim to follow responsible business practices, Adani Wilmar said, "We are committed to conducting business in a responsible and transparent manner, and all our operations are in full compliance with relevant laws and regulations. We would like to mention that the depot operations are functioning normally after the visit."
Earlier today, news reports flooded everywhere that Adani Wilmar Group's warehouse in Himachal Pradesh has been raided on account of allegations of GST violations. This update came just a few days after the Adani Group got highlighted due to the Hindenburg Research report that alleged fraud.