Government Withdraws Massive GST Demand from Jagran Prakashan

The government has retracted a hefty GST demand of Rs 2,02.83 crore from Jagran Prakashan, the publisher of Dainik Jagran. The company received the official order on June 18, 2024. Another GST demand worth Rs 13.50 crore is still pending, with the company confident of a favorable outcome.

The government has officially annulled a significant GST demand amounting to Rs 2,02.83 crore from Jagran Prakashan, the esteemed publisher of the Hindi daily Dainik Jagran, as revealed in a recent regulatory filing.

An 'order for dropping the proceedings' was dispatched to the company on June 18, 2024, addressing the previous GST demand of Rs 2,02,82,60,875, including a penalty of Rs 18,43,87,351, Jagran Prakashan disclosed.

Initially, a show cause notice was issued by the joint commissioner of state GST Kanpur, targeting the company with this demand. Another show cause notice alleging a GST liability of Rs 13.50 crore, including a penalty of Rs 1.22 crore, remains in contention. However, the company, armed with legal advice, remains confident of successfully challenging this claim on merit.

Jagran Prakashan's operations span newspapers, magazines, FM radio, digital and outdoor advertising, promotional marketing, and event management. They publish eight publications across 13 states/Union Territories in five languages, and their radio business extends to 39 FM stations along with web stations. For the financial year ending March 31, 2024, the company's consolidated revenue from operations reported an increase of 4.18%, reaching Rs 1,933.91 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)