Greenply Industries Limited has informed the Exchange about an Order dated 30th March, 2026 was passed by Office of the Senior Joint Commissioner of State Tax, Directorate of Revenue Intelligence and Enforcement, Government of West Bengal, Jalasampad Bhawan (Annex Wing), Block DF, Salt Lake, Kolkata -700091, West Bengal.
GREENPLY · price
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Greenply Industries received an order on 30th March 2026 from the Senior Joint Commissioner of State Tax, West Bengal, under the WBGST/CGST Act, 2017 for FY 2019-20. The order raises a tax demand of Rs. 75.82 lakh on input tax credit availed from vendors, which the company had already paid under protest. Additionally, interest of Rs. 90.86 lakh and a penalty of an equal amount (Rs. 75.82 lakh) have been confirmed, taking the total potential exposure to about Rs. 2.42 crore. The company states it has fulfilled all conditions for claiming the ITC, believes it has a strong case on merits, and will file a rectification or appeal within the prescribed timelines. The company has also clarified there is no material impact on its financial position or operations.
The total financial exposure of around Rs. 2.4 crore is relatively small for Greenply and unlikely to affect the stock materially, though the tax dispute adds a minor overhang. Investors should track the appeal outcome, as a favourable ruling could lead to a refund of the amounts already paid under protest.