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DMCC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The company received an appeal order from the Additional Commissioner (Appeals Raigad) dated April 27, 2026. The Department had appealed against a lower authority's order that had dropped a tax demand of Rs. 1,05,98,933 (approximately Rs. 1.06 crore) related to Input Tax Credit on Works Contract Services. The appellate authority has now set aside the original order and held that the ITC of Rs. 1.06 crore is inadmissible under Section 17(5)(c) of the CGST Act, 2017. The amount has been ordered for recovery along with applicable interest and penalty. The company states it believes the demand is not maintainable and plans to file a further appeal. Management claims the order has no material impact on financials.
The order requires recovery of Rs. 1.06 crore plus interest and penalty, but the company claims no material financial impact. The stock may see mild negative sentiment due to the additional tax liability, though the company's intent to appeal and its assessment of non-materiality may limit downside.