Indo Rama Synthetics (India) Limited has informed the Exchange about Action(s) initiated or orders passed
INDORAMA · price
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Indo Rama Synthetics has received an order from the Deputy Commissioner of State Tax, Nagpur (Maharashtra) demanding payment of Rs. 69.38 lakhs for FY 2020-21. This includes a rectified tax demand of Rs. 36.75 lakhs plus interest and penalty, arising from a dispute over Input Tax Credit under the GST Act, 2017. The company has been given 90 days to either pay the amount or file an appeal with the appropriate authority. The order was received on June 6, 2025, and the company has stated that financial impact will depend on the outcome of further proceedings. This is a continuation of an earlier intimation dated March 1, 2025, suggesting an ongoing tax matter.
The financial impact is currently uncertain and contingent on whether the company pays the demand or successfully appeals. At Rs. 69.38 lakhs, the amount is relatively modest and unlikely to materially affect the company's operations or stock price, but it highlights ongoing tax compliance issues. Shareholders should monitor whether the company opts to appeal or settle the demand.