Ramco Industries Limited

Key Development

Ramco Industries Limited received favorable orders from the Tamil Nadu – Windmill GST authority on 6th November 2026, completely dropping GST, interest, and penalty demands across five separate cases. The orders were received from Mr. Jothi Ezhilan, Commercial Tax Officer, Office of Joint Commissioner (ST), Chengalpattu Intelligence Division, located at No.870/2A, 1st Floor, N.S. Garden, Kanchipuram High Road, Thimmavaram, Chengalpattu - 603101.

Case Details and Financial Impact

The company provided detailed breakdown of five cases covering financial years 2018-19 through 2023-24:

1. FY 2018-19 Case

  • Original Demand: GST ₹8,33,220 + Interest ₹9,80,826 + Penalty ₹8,33,220
  • Total Potential Liability: ₹26,47,266
  • Order Received: 6.11.2026 at 12:43 PM
  • Outcome: All demands dropped completely

2. FY 2019-20 Case

  • Original Demand: GST ₹8,33,220 + Interest ₹8,30,434 + Penalty ₹8,33,220
  • Total Potential Liability: ₹24,96,874
  • Order Received: 6.11.2026 at 12:46 PM
  • Outcome: All demands dropped completely

3. FY 2021-22 Case

  • Original Demand: GST ₹8,33,220 + Interest ₹5,30,476 + Penalty ₹8,33,220
  • Total Potential Liability: ₹21,96,916
  • Order Received: 6.11.2026 at 12:48 PM
  • Outcome: All demands dropped completely

4. FY 2022-23 Case

  • Original Demand: GST ₹8,33,220 + Interest ₹3,80,496 + Penalty ₹8,33,220
  • Total Potential Liability: ₹20,46,936
  • Order Received: 6.11.2026 at 12:49 PM
  • Outcome: All demands dropped completely

5. FY 2023-24 Case

  • Original Demand: GST ₹4,16,610 + Interest ₹1,15,052 + Penalty ₹4,16,610
  • Total Potential Liability: ₹9,48,272
  • Order Received: 6.11.2026 at 12:53 PM
  • Outcome: All demands dropped completely

Total Financial Impact

The cumulative potential liability across all five cases was ₹37,49,490. With the favorable orders received on 6.11.2026, this entire amount has been waived, resulting in a positive financial impact for the company.

Background of the Cases

All cases related to GST implications on corporate guarantees provided by Ramco Industries to its group company M/s. Harini Textiles Limited. The original demands were issued under Notification No. 52/2023-Central Tax dated 26.10.2023 and Section 74 of the CGST Act, 2017. The Commercial Tax Officer had converted notices to Orders in Form DRC-07 on 4.11.2025.