Camlin Fine Sciences Limited has informed the Exchange about Action(s) taken or orders passed

CAMLINFINE · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+5.6%1-day move

₹97.50

prior close

₹100.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+2.9+4.4+3.8+3.6+5.6+5.6+6.3+12.6+6.9+6.6+32.1+35.0+21.0+35.6

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AI summary

Camlin Fine Sciences has received an Order in Original from the Assistant Commissioner of CGST & Central Excise, Palghar Commissionerate, demanding IGST of Rs. 96.66 lakh along with an equal amount as penalty, plus applicable interest. The demand relates to alleged non-payment of tax under the Reverse Charge Mechanism on foreign currency expenses reimbursed to foreign subsidiaries during FY 2019-20 to FY 2022-23. The total demand, including tax and penalty, amounts to roughly Rs. 1.93 crore before interest. The company has stated there is no material impact on its financials or operations and is in the process of filing an appeal against the order.

Likely market impact

The financial impact is described by the company as immaterial, but shareholders should note the tax demand, penalty, and pending appeal. The outcome of the appeal could affect the company's tax position and create a contingent liability if not overturned.