Bansal Wire Industries Limited has informed the Exchange regarding disclosure under Regulation 30 of SEBI(LODR) Regulations, 2015
BANSALWIRE · price
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Awaiting price reaction for this filing.
Bansal Wire Industries received a Show Cause Notice (SCN) from the Joint Commissioner, SGST, Corporate Circle-I, Ghaziabad Zone-I on June 25, 2025, under Section 74 of the CGST/SGST Act, 2017, for financial year 2018-19. The notice relates to alleged issues with E-way bills, excess/blocked Input Tax Credit (ITC) claims, and non-payment of tax on sale of RODTEP licenses. The tax demand is approximately ₹39.51 crore, with interest of about ₹47.91 crore and a penalty of about ₹39.51 crore, taking the total potential exposure to roughly ₹126.93 crore. The company states it strongly believes the demand has no merit and plans to file a response through its tax consultant. Management has stated there is no material impact on financial, operational, or other activities of the company.
Despite the company's reassurance of no material impact, the total tax demand of ~₹127 crore is significant and could weigh on investor sentiment. The stock may see some short-term volatility as investors assess the probability of an unfavorable outcome, though the company's confidence in contesting the notice limits immediate concern.