Indo Rama Synthetics (India) Limited has informed the Exchange about Action(s) initiated or orders passed
INDORAMA · price
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Awaiting price reaction for this filing.
Indo Rama Synthetics has received an order from the Office of the Deputy Commissioner of State Tax, Nagpur (Government of Maharashtra) for determination of dues under Section 73 of the MGST/CGST Act, 2017. The demand amounts to approximately ₹1.01 crore (tax, interest, and penalty combined) relating to FY 2021-2022. The demand is on account of a discrepancy in the Reverse Charge Mechanism (RCM) liability on freight and carriage expenses. The order was received on 29th December 2025, and the company has stated that any financial impact will depend on the outcome of the further proceedings in this matter.
The demand is relatively modest at about ₹1 crore against the company's size, but it creates a contingent liability that could affect finances if the order is upheld. The stock may see limited reaction as the company has indicated it will engage with the proceedings, and the amount is not material enough to significantly impact operations.