Astec LifeSciences Limited has informed the Exchange about Action(s) taken or orders passed
ASTEC · price
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Astec LifeSciences has received a Show Cause cum Demand Notice dated 28th July 2025 from the Joint Commissioner (Adjudication), Central GST and Central Excise, Navi Mumbai Commissionerate. The tax authority is questioning a refund of Rs. 4,111.55 Lakh (about Rs. 41 crore) that was allegedly wrongly sanctioned to the company for the period April 2019 to March 2022 under Section 54 of the CGST Act. The issue relates to the company having availed duty-free imports under Advance Authorization while also claiming refunds. The potential financial impact, if the demand is upheld, could be around Rs. 4,111.55 Lakh along with applicable interest and penalty. The company believes the demand is not maintainable and plans to challenge it before higher authorities or courts within the prescribed time.
This is a significant tax demand (roughly Rs. 41 crore plus interest and penalty) that could materially impact the company's financials if not successfully contested. The stock may see short-term pressure due to the size of the demand, but the company intends to fight it, so the final outcome is uncertain at this stage.