ARCL Organics gets GST show cause notice for about Rs 5.05 crore demand
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ARCL Organics received a show cause notice from the West Bengal GST Authority for FY 2022-23. The department disputes the HSN classification of its product Aqua Strong Bond, arguing it should be under HSN 3906 instead of the company's claimed HSN 2309. Total proposed demand is Rs 5.05 crore, including Rs 2.78 crore tax, Rs 1.99 crore interest, and Rs 27.79 lakh penalty. The company disagrees with the classification, says the notice is not a final order, and will respond through legal channels.
No immediate hit to operations or finances, but a pending tax demand of about Rs 5 crore could pressure earnings if upheld.