Enviro Infra Engineers Limited has informed the Exchange about Action(s) initiated or orders passed
EIEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Enviro Infra Engineers has received an intimation from the Assistant Commissioner of State Tax alleging short payment of GST for the period FY2018-19 to FY2023-24. The discrepancy was found between the company's GSTR-3B returns and the GSTR-07 filings of tax deductors. The total demand is approximately ₹8.40 crore, comprising ₹5.07 crore in tax, ₹2.57 crore in interest, and ₹76 lakh in penalty. The largest single-year demand is for FY2023-24 at ₹3.89 crore, followed by FY2021-22 at ₹3.78 crore. The company has stated there is no material impact on its financials or operations and plans to take appropriate action within the prescribed timeline.
The ₹8.4 crore demand is unlikely to be material for the company, and management has indicated it will contest the order. However, if the demand is upheld after appeal, it could marginally affect profitability and create a short-term overhang on the stock.