In terms of Regulation 30 (2), Regulation 30(13) and other applicable regulations, its Obligations and Disclosure Requirements) Regulations, 2015, together read with SEBI/HO/CFD/CFD-POD-1/P/CIR/2023/123 ....
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Awaiting price reaction for this filing.
Ghushine Fintrrade Ocean Ltd has received a summons from the Central GST authority in Surat asking the company to appear on June 12, 2025 and produce documents related to its dealings with a firm called M/s Decent Trading & Exim. The documents sought include sales and purchase ledgers, purchase orders, invoices, transport papers (LR, e-way bills, weighment slips) and bank statements. The GST officer has also asked the company to pay any ineligible input tax credit (ITC) that may have been availed or passed on in those transactions. The company says no specific violation has been alleged yet and the inquiry is at a very early stage, so the financial impact cannot be estimated right now.
The matter is still at a preliminary stage with no allegations made, so there is no immediate financial hit. However, if the inquiry finds irregularities in ITC claims linked to M/s Decent Trading & Exim, the company could face a tax demand and penalties, which would affect future earnings.