Announcement under Regulation 30 read with SEBI Circular No. SEBI/HO/CFD/Cfdpod-1/P/CIR/2023/123 dated 13th July 2023 read with master circular issued on 11th November,2024 SEBI/HO/CFD/PoD2/CIR/P/0155
INTERARCH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Interarch Building Solutions has received an order dated April 17, 2025 from the Joint Commissioner (UK State GST), Rudrapur, under Section 52 of the UK VAT Act. The order alleges that a GST refund was wrongly disbursed for the period April 1, 2017 to June 30, 2017 and should instead have been claimed via Tran-1. The total demand is Rs. 39,08,000 in tax plus 15% per annum interest from the date of disbursement (approximately Rs. 18.4 lakh additional). The company received the order on April 26, 2025 and has stated it will file an appeal against the order in due course. The filing also clarifies a short procedural delay in the prior disclosure, noting the information was submitted to the stock exchanges within 24 hours of the Compliance Team receiving it.
The financial impact is relatively modest at around Rs. 57 lakh (tax plus interest) compared to a company of Interarch's scale. Since the company is contesting the order and plans to appeal, the near-term impact on share price is likely limited, but the matter remains a small regulatory overhang until resolved.