Kamdhenu Limited has informed the Exchange about orders passed by GST Authority, Alwar, Rajasthan.
KAMDHENU · price
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On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.4 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kamdhenu Limited has received a GST demand order from the Office of the Additional Commissioner of CGST, Alwar Commissionerate, alleging wrongly availed Input Tax Credit (ITC) for the period FY 2018-19 to FY 2021-22. The demand amount is Rs. 63.40 lakhs, with an equal amount of Rs. 63.40 lakhs as interest and penalty, taking the total potential liability to around Rs. 1.27 crore plus applicable interest. The order has been passed under the CGST, RGST, and IGST Acts. The company has stated it has a strong factual and legal basis to contest the order and does not anticipate any material impact on its financial position or operations. Kamdhenu plans to file an appeal before the Commissioner (Appeals), GST, Alwar.
The financial impact is relatively small compared to the size of a listed company, and management has downplayed any material effect. However, the outcome of the appeal remains uncertain, and any adverse ruling could lead to additional cash outflow in the future. Short-term stock impact is likely muted.