Date: June 2, 2026
Regulatory / Legal Disclosure
The company has received a material order from a tax authority, which is disclosed as required by SEBI LODR Regulations.
Details of the Order
- Issuing Authority: Deputy Commissioner of State Tax, Raipur, Chhattisgarh
- Date of Receipt: June 1, 2026, at 4:56 P.M.
- Legal Basis: Order issued under Section 73 of the Goods and Service Act, 2017
- Applicable Period: Financial Year 2023 (FY2023)
- Nature of Communication: An order upholding a tax demand raised under Form GST DRC-07.
Reasons Cited in the Order
The order was issued due to the following identified non-compliances:
1. Mismatch in Input Tax Credit (ITC) claimed in GSTR-3B versus GSTR-2A.
2. Requirement for reversal of Input Tax Credit as per GST Law.
3. Mismatch in declared GST liability.
Financial Implications
The total financial demand outlined in the order is broken down as follows:
- GST Demand: ₹ 30,985,948
- Interest Demand: ₹ 17,118,341
- Penalty Imposed: ₹ 3,111,875
- Total Demand: ₹ 51,216,164
Company's Response and Outlook
- The company has stated that there is no financial impact at this stage.
- The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines.
Other Sections
- KMP / Board / Auditor Changes: Not Specified
- Dividend Declaration or Non-Declaration: Not Specified
- Board Meeting Outcomes: Not Specified
- Financial Results: Not Specified
- Auditor’s Report: Not Specified
- Disinvestment / Strategic Actions: Not Specified
- Media Release / Investor Communication: Not Specified