Announced Fri, 3 Jul · 15:25 IST
Karnataka GST appeal dismissed, company says no material impact
LAMBODHARA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.7%1-day move
₹116.20
prior close
₹113.15
base price
In-mkt
timing
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AI summary
Lambodhara Textiles informed the exchange that the Joint Commissioner of Commercial Taxes (Appeals), Dharwad Division, dismissed its appeal under Section 107(11) of the Karnataka GST Act, 2017. The appeal was filed against an earlier order from March 2024 demanding Rs 7.24 lakh total, including penalties of Rs 3.62 lakh under CGST and Rs 3.62 lakh under SGST. The company has already paid the demanded amount. The company stated the appellate order has no material impact on its financials, operations, or other activities.
Likely market impact
Appeal lost but amount already paid; company says no material impact on financials or operations.