Indo Count Industries Limited has informed the Exchange about GST Inspection and Search of the premises of the Company
ICIL · price
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On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250 and 2.3 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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On 11th March 2026, the Commissioner of State Tax, Maharashtra initiated an inspection and search of Indo Count Industries' premises under Section 67 of the Maharashtra GST Act, 2017. The search began at 11:50 a.m. and is currently underway, with the company extending full cooperation to the authorities. As of now, no specific violations have been communicated and the company states there is no material impact on its financials, business operations, or other activities. The company has committed to making further disclosures if any material developments arise during the process.
The company says there is no current impact on operations or financials, but GST searches can sometimes lead to demands or penalties depending on findings. Short-term sentiment may be cautious until the outcome is clear.