Shri Gang Industries Receives Tax Demand ₹28.16 Cr

Shri Gang Industries received tax demand orders totalling ~₹28.16 crore for FY 2022-23 from Deputy Commissioner, State Tax, Sikandrabad, UP.
Demands raised under Section 9(2) of Central Sales Tax Act (₹65.46 lakh) and Section 28(2)(ii) of UP VAT Act (₹27.51 crore).
Company disputes the orders, alleging incorrect VAT/CST rate application, and plans to file appeals within prescribed timelines.
Company does not foresee any adverse impact on its financials, operations, or other activities.