Indo Rama Synthetics (India) Limited has informed the Exchange about General Updates
INDORAMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indo Rama Synthetics has received a tax demand notice from the Deputy Commissioner of State Tax, Nagpur, for ₹36,88,89,886 (about ₹36.89 crore) under Section 73(5) of the GST Act, 2017. The demand pertains to FY 2021-2022 and stems from alleged non-reconciliation of excess outward tax in e-way bills compared to GSTR-9 returns. The company has been asked to pay the amount or respond to the authority by 3 July 2025. The notice was received on 24 June 2025.
This is a material financial demand equivalent to a significant portion of the company's earnings, but the outcome remains uncertain as the company retains the right to contest. If upheld, it could pressure short-term cash flows and profitability; investors should watch for the company's response and any further updates.