Deepak Nitrite Limited has informed the Exchange about General Updates
DEEPAKNTR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Deepak Nitrite has received an order from the Assistant Commissioner of State Tax, Vadodara, under the Gujarat GST Act. The order demands a total of about ₹60.47 lakhs — ₹19.14 lakhs as tax, ₹22.18 lakhs as interest, and ₹19.14 lakhs as penalty — related to alleged ineligible Input Tax Credit (ITC) claimed by the company for FY 2019-20. The order was passed on 7th March 2026 and received by the company on 25th March 2026. The company believes it has correctly claimed the ITC in compliance with GST law and plans to challenge the order through legal recourse. The company has stated there will be no material financial impact beyond the amounts mentioned in the order.
The total demand of ~₹60.47 lakhs is small relative to Deepak Nitrite's overall scale and is unlikely to materially affect financials, though the legal challenge adds minor uncertainty. Near-term stock impact should be negligible barring escalation.