Heritage Foods Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
HERITGFOOD · price
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Heritage Foods Limited has received a refund release order from the Office of the Assistant Commissioner of Central Tax, Tirupati Division, dated August 8, 2025. The order grants a refund of GST that the company had paid under protest on Flavoured Milk supplies made in Andhra Pradesh between July 1, 2017 and October 31, 2021. The refund follows the dismissal of the GST Department's Special Leave Petition against an earlier favourable court judgment. The company will receive Rs. 453.44 lakhs as principal refund plus Rs. 7.98 lakhs as interest, totaling Rs. 461.41 lakhs (IGST Rs. 17.35 lakhs, CGST Rs. 222.03 lakhs, SGST Rs. 222.03 lakhs). No penalties, restrictions, or non-compliances were flagged in the order.
This is a positive development for shareholders as Heritage Foods will recover approximately Rs. 4.61 crore that was earlier locked up as protest payment. While the amount is modest relative to the company's size, it strengthens cash flow, confirms the company's legal position, and removes an uncertain tax overhang.