Please find attached information under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, pertaining to intimation of tax ascertained ....
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Arex Industries Ltd received a tax demand of Rs. 31,92,734 (approximately Rs. 31.93 lakh) from the Office of the Commissioner of Central GST, Audit Commissionerate, Ahmedabad, via Form GST DRC-01A dated April 28, 2025. The demand relates to alleged non-reversal of wrongly availed Input Tax Credit (ITC) on a Solar Rooftop system and a Wind Mill located at Sadodar, both generating exempted electricity. The final amount could rise as interest and other charges are yet to be ascertained up to the date of payment. The company has stated that apart from this potential tax liability, there is no other material impact on its financials or operations. Management is reviewing the audit report and intends to file a reply or appeal before the competent authority.
The immediate financial impact is limited to Rs. 31.93 lakh plus interest, which is a relatively small amount for a listed entity. Shareholders should monitor the appeal outcome, as an unfavorable ruling could result in a higher final liability including penalties and interest, while a favorable outcome would relieve the company of this demand.