Receipt of demand notice from the Assistant Commissioner, Salem, Tamil Nadu, u/s 73 of GST Act, 2017 reducing the amount of demand payable.
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Indag Rubber Limited received a revised GST demand notice from the Assistant Commissioner in Salem, Tamil Nadu for FY 2021-22. The original demand of Rs. 66.20 lakhs has been significantly reduced to Rs. 2.00 lakhs after the company furnished relevant information. The reduced amount includes GST demand of Rs. 98,213, interest of Rs. 62,218, and penalty of Rs. 40,000. The original notice was issued on August 21, 2025 for wrong availment of input tax credit on ineligible and blocked credit. The company received the revised notice on October 9, 2025 and plans to file an appeal with the Appellate Authority within the prescribed timelines.
This is a positive development for shareholders as the GST demand was slashed by roughly 97% from Rs. 66.20 lakhs to just Rs. 2 lakhs. The company has confirmed there is no material impact on its financials, operations, or other activities from this notice.