Disclosure Pursuant to Regulation 30 of SEBI (LODR) Regulations 2015
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L.K. Mehta Polymers has received a GST demand notice dated 08 May 2025 from the Office of the Assistant Commissioner (Audit), Central GST, Central Excise & Customs, Circle Ujjain. The demand of Rs. 1,16,05,057 (around Rs. 1.16 crore) is for alleged short payment of tax spanning financial years 2018-19 to 2022-23. The tax authority claims the company misclassified plastic rope under chapter heading 56071010 instead of the correct heading 392690. The company has stated it will file an appeal against the order and is currently unable to quantify the financial impact.
This is a pending tax dispute that the company plans to contest through appeal. If the demand is upheld, it could dent profits by around Rs. 1.16 crore plus potential penalties. Shareholders should monitor the appeal outcome for any material impact on financials.