Intimation regarding drop of proceedings against the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.6 pts more than its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Indag Rubber Limited has informed the BSE that GST proceedings against the company have been dropped by the Joint Commissioner of State Tax, Bhiwadi, Rajasthan. Earlier, on September 25, 2025, the company had received a show cause notice under Section 73 of the GST Act, 2017, for FY 2021-22, alleging excess claim of Input Tax Credit (ITC) with a total demand of Rs. 1,07,59,703 in tax, interest, and penalty. After the company submitted its reply to the notice, the tax authority has dropped the proceedings entirely. As a result, no GST, interest, or penalty is required to be paid by the company.
Positive for shareholders — the potential liability of about Rs. 1.08 crore has been fully waived with no financial, operational, or other impact on the company. This removes an overhang and is a clean win on a tax dispute.