Delta Manufacturing Limited has informed the Exchange about General Updates
DELTAMAGNT · price
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Awaiting price reaction for this filing.
Delta Manufacturing Limited has informed the exchanges that it received a Show Cause Notice from the Tamil Nadu GST Assistant Commissioner under Section 74 of the TNGST Act 2017/CGST Act 2017 for financial year 2018-19. The notice demands GST on zero-rated supplies along with penalty and applicable interest, totalling approximately ₹3.45 crore (INR 3,45,17,174). The notice was issued in the name of MMG India Private Limited, an erstwhile wholly owned subsidiary that was merged with the company pursuant to an NCLT order dated 27th December 2019. The company has stated there is no material impact on its financial, operational, or other activities arising from this notice.
This is a routine tax compliance matter relating to a past period of a merged entity. With the company confirming no material financial impact and the demand being relatively small (~₹3.45 crore), the impact on shareholders or stock price is likely negligible, though the outcome of the notice remains pending.