Butterfly Gandhimathi Appliances Limited has informed the Exchange about Action(s) initiated or orders passed
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On May 21, 2025, the Joint Commissioner (ST) Intelligence, Chengalpattu Division, initiated search operations at the company's factory in Pudupakkam Village, Chennai under the Tamil Nadu Goods and Service Tax Act, 2017. The alleged violation is that the company claimed input tax credit in excess of its entitlement. The company has stated that normal business operations at the factory and offices remain unaffected and no financial demand has been raised by the GST authorities as of the date of disclosure.
No immediate financial demand or operational disruption has been reported, but the outcome of the search could lead to a tax demand or penalty. Investors should watch for further updates on potential financial liabilities.