Patanjali Foods: The troubles of Yoga Guru Swami Ramdev’s Patanjali Group are not decreasing. Now the GST Intelligence Department (DGGI) has issued a show cause notice to the group company Patanjali Foods. By sending a show cause notice, the company has been asked to explain why input tax credit of Rs 27.46 crore should not be recovered from it. Yoga guru Ramdev-led Patanjali Group company has received a notice from the Directorate General of GST Intelligence, Chandigarh Zonal Unit, according to a regulatory filing by the company on April 26. Apart from this, the manufacturing licenses of 14 medicines of Divya Pharmacy of Patanjali Group have also been canceled with immediate effect.
what did the company say
The company said that a show cause notice has been received. The company, its officers and authorized signatories have been asked to show cause as to why the input tax credit amount of Rs 27,46,14,343 (including interest) should not be recovered, and why penalty should not be imposed. DGGI has cited Section 74 of the Central Goods and Services Act 2017 and Uttarakhand State Goods and Services Act 2017 and other applicable provisions. At the same time, Patanjali Foods said that the authority has just issued a show cause notice and the company will definitely take action to defend itself.
The company said the expected financial implications cannot be determined until the proceedings are completed. Last week, Patanjali Food had said that it would evaluate the proposal to acquire the non-food business of Patanjali Ayurveda. Patanjali Foods was earlier known as Ruchi Soya Industries Limited. It is a leading FMCG company. The company operates in the edible oil, food and FMCG and wind power generation sectors through brands like Patanjali, Ruchi Gold, Nutrela. Patanjali had acquired Ruchi Soya through the bankruptcy process and later the name of the company was changed to Patanjali Foods Limited.
Manufacturing licenses of these 14 medicines of Patanjali canceled
Not only this, meanwhile the manufacturing licenses of 14 medicines of Divya Pharmacy of Patanjali Group have been suspended. This information was given in an order of the License Authority of Uttarakhand Drug Department. This order has been issued taking cognizance of the complaints of the company regarding misleading advertisements of these products in violation of the Drugs and Magic Remedies (Objectionable Advertisements) Act and the Drugs and Cosmetics Act earlier this month. According to the order, the names of the products of Divya Pharmacy whose manufacturing license has been canceled with immediate effect are: ‘Shwasari Gold’, ‘Shwasari Vati’,
‘Bronkom’, ‘Shwasari Pravahi’, ‘Shwasari Avaleh’, ‘Mukta Vati Extra Power’, ‘Lipidome’, ‘BP Grit’, ‘Madhugrit’, ‘Madhunashini Vati Extra Power’, ‘Livamrit Advance’, ‘Livogrit’, ‘Eyegrit Gold’ and ‘Patanjali Drishti Eye Drop’.
