Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company ....
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Lancer Container Lines has received a Recovery Order from the Joint Commissioner of CGST and Central Excise, Belapur, dated February 3, 2026. The order pertains to the assessment of Reverse Charge Mechanism (RCM) applicability on ocean freight and other foreign services under Section 74(1) of the CGST Act, 2017. The demand raised is ₹7,85,91,327 (approximately ₹7.86 crore), along with an equivalent penalty and applicable interest. The company is exploring legal options, including filing an appeal. Management has stated that no material impact on financials, operations, or other activities is anticipated.
Despite a ₹7.86 crore tax demand plus penalty and interest, the company expects no material financial impact and plans to appeal. Investors should monitor the appeal outcome, as an unfavourable ruling could affect earnings.