Zaggle Prepaid Ocean Services Limited has informed the Exchange about Action(s) initiated or orders passed
ZAGGLE · price
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Zaggle Prepaid Ocean Services has received a summary of an order dated February 3, 2025, from the Joint Commissioner of Rangareddy, Telangana, imposing a penalty of Rs. 84,61,270 on the Company and Rs. 25,000 each on its Directors. The penalty relates to excess Input Tax Credit claims under the CGST, SGST, and IGST Acts for FY 2017-18. The Company has filed an appeal before the Commissioner (Appeals) in Mumbai on June 2, 2025. Management expects a favorable outcome at the appellate level and believes the order will not have any material financial impact on the Company.
The financial impact is currently limited as the penalty amount is small relative to the Company's size and is being actively appealed. Investors should monitor the appeal outcome, though management's confident tone suggests minimal concern for now.