Delta Manufacturing Limited has informed the Exchange about General Updates
DELTAMAGNT · price
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Delta Manufacturing Limited received an order from the GST Authority in Tamil Nadu on 10th May 2025 granting a waiver of interest and penalty for FY 2018-19 and FY 2019-20 under Section 128A of the CGST Act, 2017. For FY 2018-19, the company had a demand of about INR 1.01 crore (already paid INR 50.33 lakh) and got waivers of INR 45.79 lakh in interest and INR 5.13 lakh in penalty. For FY 2019-20, the demand was INR 3.59 lakh (already paid INR 1.89 lakh) with waivers of INR 1.50 lakh in interest and INR 20,000 in penalty. In total, the company received waivers of roughly INR 47.3 lakh in interest and INR 5.33 lakh in penalty across both years. This resolves outstanding tax-related interest and penalty exposure from these two financial years.
This is a positive outcome for shareholders as the company has successfully obtained waivers on interest and penalty dues, reducing its overall tax-related liability and removing a potential financial overhang. The direct cash impact is limited (already-paid amounts are not refunded), but it improves the company's compliance standing and avoids further financial strain.