VMS Industries received GST Order-in-Original dated 31-03-2026 demanding ₹22.94 crore tax and penalty for FY 2024-25.
Order alleges fraudulent Input Tax Credit availment and passing via bogus invoices without actual goods supply.
Company states demand represents 7.95% of FY24-25 turnover and will appeal with adequate provisions to contest.
Disclosure made under SEBI Regulation 30 confirming no material operational impact from the order.