Key Quantitative Figures
The Company has received an order alleging excess Input Tax Credit (ITC) claimed and utilized amounting to ₹8,41,20,475. The authority has imposed a penalty of ₹8,41,20,475 under Sections 74 & 122 of the CGST Act, bringing the total financial demand to ₹16,82,40,950. Interest under Section 50 of the CGST Act has also been confirmed.
Dates of Action
The order was received on November 10, 2026. The period of alleged violation spans from June 2020 to March 2022.
Parties Involved
- Issuing Authority: Addl. Commissioner, CGST & Central Excise, Rourkela Commissionerate
Company's Response and Assessment
The Company is evaluating the order and will take necessary action, including filing an appeal. Based on the Company's assessment, the matter is not expected to have any material impact on its financial, operational or other activities. The amounts involved are stated to be not material.