NSE/BSE Codes: No material disclosures in this section
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 regarding receipt of two GST orders from Tamil Nadu tax authorities.
Involved Parties / Authorities:
- Office Of The State Tax Officer, Tuticorin-II, Assessment Circle, Tuticorin, Tamil Nadu
- National Stock Exchange of India Ltd
Date / Timeline of Event:
- Orders issued: 31st October, 2026
- Company downloaded orders: 1st November, 2026 (due to technical issues in portal)
- Disclosure letter dated: 2nd November, 2026
Brief Description of Outcome / Dispute:
The company received two separate orders under Section 73 of the Tamil Nadu Goods and Service Act 2017 for financial years 2022-23 and 2023-24, demanding payment of tax, interest, and penalties totaling ₹21,60,528.
Impact of Outcome:
Financial Impact:
- FY 2022-23 Demand: ₹5,59,516 (tax) + ₹3,55,944 (interest) + ₹55,952 (penalty) = ₹9,71,412 total
- FY 2023-24 Demand: ₹11,00,999 (tax) + ₹5,02,237 (interest) + ₹1,25,880 (penalty) = ₹17,29,116 total
- Combined Total Demand: ₹21,60,528
- Explicitly stated: "No material impact on financial, operation or other activities of the Company"
Operational / Business / Strategic Impact:
No material operational or business impact disclosed. The company states the orders do not affect operational activities.
Other Implications:
No reputational, legal, regulatory, or market perception effects explicitly stated beyond the financial demands.
Next Steps / Required Actions:
The company is planning to file an appeal against both orders before the appropriate authorities. No specific timeline or deadline for appeal mentioned.