Deepak Fertilizers And Petrochemicals Corporation Limited has informed the Exchange about Action(s) taken or orders passed
DEEPAKFERT · price
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The company received a tax demand order from the Deputy Commissioner of State Tax, Nodal-3, Pune, dated 31st March 2026. The total demand is Rs. 74.89 crore, comprising tax of Rs. 31.04 crore, interest of Rs. 36.09 crore, and penalty of Rs. 7.76 crore. The demand arose from an alleged incorrect application of MVAT rate - the department applied 13.5% on natural gas sales to a subsidiary instead of the correct 3% rate applicable for captive consumption. The company firmly states there is no violation or contravention as the department erred in rate application. The company collected the order on 11th May 2026 and plans to challenge it at an appropriate forum, maintaining the demand is not tenable.
No material financial impact expected by the company. The dispute involves a significant Rs. 74.89 crore demand but the company contests it legally and expects it to be set aside in appeal. This could still create uncertainty and potential cash flow implications if the appeal is not favorable.