Dhanuka Agritech receives entry tax demand of about Rs 55.5 Crore from Haryana
DHANUKA · price
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On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 1.2 pts less than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Dhanuka Agritech has received 7 entry tax demand orders from the Excise and Taxation Department, Gurugram, for FY 2008-09 to FY 2014-15, totaling about Rs 55.53 Crore. The demands relate to entry tax on goods brought into Haryana under the state Entry of Goods Act, 2008. The company considers these demands not maintainable and is evaluating options including filing a writ. It states no material impact on financials, operations, or other activities is expected.
Company plans to contest via writ and says no material financial or operational impact. Outcome of legal action is the key thing to watch.