GNG Electronics Limited has informed the Exchange regarding 'Intimation Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
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GNG Electronics has informed stock exchanges that it received an Order-in-Original dated March 27, 2026 from the Office of the Principal Commissioner of CGST & Central Excise, Mumbai East. The order relates to the availment and utilization of Input Tax Credit (ITC) by the company for the period April 1, 2019 to March 31, 2024. It imposes a GST demand of Rs. 34.10 crore along with a penalty of Rs. 34.24 crore and applicable interest. The company has stated that it will file an appeal against the order and believes there is no material financial or operational impact on its business.
Total tax-and-penalty exposure of roughly Rs. 68 crore (plus interest) is sizeable for the company and could weigh on near-term sentiment, though the management's confidence in a favourable appeal outcome and claim of no material impact may cushion the blow. Investors should watch for updates on the appeal and any further demand notices.