In a regulatory filing, the company said the initiation of search was pursuant to the provisions of Section 67 of the Tamil Nadu Goods and Services Tax Act, 2017
FMCG player Colgate-Palmolive (India) Ltd on Tuesday said the State Goods and Service Tax Officer, Chennai, conducted a search at its warehouse in the southern city on November 16-17, and a penalty of Rs 1 lakh was imposed for "minor non-compliance".
In a regulatory filing, the company said the initiation of search was pursuant to the provisions of Section 67 of the Tamil Nadu Goods and Services Tax Act, 2017.
"...the State Goods and Service Tax Officer, Chennai, has conducted a search at Chennai warehouse of the company from November 16 to November 17, 2023," Colgate-Palmolive (India) said.
"The penalty of Rs 1 lakh was levied for minor procedural non-compliance under Section 125 of the CGST Act and SGST Act and is not specific to any suppression or willful misstatement done by the company," the company said.
The business operations of the company continued as usual, it added.
"The company extended full cooperation to the department," the filing added.
On the implications on financial, operation or other activities and quantifiable in monetary terms to the extent possible, it said, "Impact of this search is not ascertainable at this stage pending formal show cause notice/demand notice."