Madhav Copper Limited has informed the Exchange about Action(s) initiated or orders passed
MCL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Madhav Copper Limited has received an intimation order dated June 27, 2025, from the Assistant Commissioner of State Tax, Gujarat, under Section 74 of the GST Act, 2017, for financial year 2018-19. The order alleges that the company wrongly availed input tax credit and has raised a tax demand of approximately Rs. 90.32 crore, along with interest and penalty. The company has stated that it does not agree with the order and intends to file a reply challenging it. Importantly, the company has clarified that there is no material impact on its financial or operational activities despite the size of the demand.
The tax demand is sizeable at over Rs. 90 crore, but the company is contesting it and believes there is no material financial impact. Shareholders should watch for updates on the appeal, as an adverse outcome could pressure the stock, while a successful challenge would be a positive.