Bombay Dyeing & Mfg Company Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI LODR'.
BOMDYEING · price
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 1.1 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bombay Dyeing has received an order on its appeal filed against a GST demand for FY 2019-20. The original demand of Rs. 188.84 crore (including interest and penalty) was issued under Form GST DRC-07 in August 2024. The Joint Commissioner (Appeals) has partly allowed the appeal, reducing the total liability (IGST, CGST, SGST including interest and penalty) to Rs. 123.28 crore, a reduction of about Rs. 65.56 crore. The company is still evaluating further legal options in the matter.
Positive development for shareholders as the tax liability has come down meaningfully, easing some pressure on the company's finances. However, since the relief is only partial and the company may pursue further action, the final outcome remains uncertain.