Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the outcome of an appeal against a GST demand order.
Involved Parties / Authorities:
- The Gujarat Goods and Service Tax (GST) Department (Original Adjudicating Authority)
- Hon'ble Appellate Authority (Appellate Authority)
- Anup Engineering Limited (The Appellant)
Date / Timeline of Event:
- 20th February 2025: Company's initial intimation to stock exchanges regarding the original GST demand order.
- 3rd October 2026, 04:35 PM IST: The company received the favorable order from the Hon'ble Appellate Authority.
- 4th October 2026: Date of this disclosure letter to BSE and NSE.
Brief Description of Outcome / Dispute:
The Gujarat GST Department had passed an order under Section 74(1) of the CGST Act, 2017, raising a total demand of ₹3.32 crore against the company. This comprised an ineligible Input Tax Credit (ITC) claim of ₹1.33 crore, IGST on Ocean Freight of ₹0.33 crore, and a penalty of ₹1.66 crore, plus applicable interest. The company filed an appeal against this order to the Hon'ble Appellate Authority. The Appellate Authority has allowed the company's appeal and set aside the original impugned order passed by the GST Department.
Impact of Outcome:
Financial Impact:
The company explicitly states that there is no financial impact as a result of this favorable order. The potential liability of ₹3.32 crore, plus any accrued interest, has been completely nullified.
Operational / Business / Strategic Impact:
No material operational, business, or strategic impacts are disclosed in the document.
Other Implications:
The successful appeal resolves a significant regulatory dispute for the company, potentially avoiding future litigation costs and closing the matter.
Next Steps / Required Actions:
No further actions, deadlines, or next steps are mentioned in the disclosure. The matter appears to be concluded.