Nature of the Disclosure
This is a regulatory disclosure made by Nilkamal Limited to the BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Details of the Regulatory Action
Nilkamal Limited has received an Order-in-Appeal dated August 31, 2026, from The Joint Commissioner, CGST & CX, Siliguri Appeal Commissionerate. The order was received by the company on September 10, 2026.
The appellate order was passed under Section 107(11) of the CGST Act, 2017. It rejected the appeal preferred by the company and upheld the original Order-in-Original dated November 20, 2025.
Details of the Violations and Demand
The upheld order relates to alleged violations for the financial years 2018-19 and 2019-20 in the State of West Bengal. The company was found to have wrongly availed and utilized Input Tax Credit (ITC).
A confirmed demand of ₹7,22,362 was raised, comprising:
- Tax dues of ₹3,61,181
- Penalty of ₹3,61,181
The demand was raised under Section 74(1) of the CGST Act, 2017 & WBGST Act, 2017 read with Section 20 of the IGST Act, 2017.
Financial and Operational Impact
The company explicitly states: "There is no Material impact on Financial and operational activities of the Company on account of this order."
Company's Course of Action
Based on professional advice, the company will take the necessary course of action.