Madhav Copper Limited has informed the Exchange about Action(s) initiated or orders passed
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Awaiting price reaction for this filing.
Madhav Copper Limited has received an intimation order dated May 30, 2025 from the Assistant Commissioner, State Tax, Gujarat, under Section 73(5)/74(5) of the GST Act, 2017, for financial year 2021-22. The order alleges that the company wrongly availed input tax credit and raises a total demand of Rs. 31,08,63,584 (about Rs. 31.09 crore) along with applicable interest and penalty. The company has stated it disagrees with the order and plans to file a reply or take appropriate legal action. Management has clarified that there is no material impact on the company's financial or operational activities from this order.
This is a tax dispute, not a confirmed liability. The Rs. 31 crore demand (if upheld) could affect future earnings, but the company is contesting it. Short-term sentiment may be mildly negative, though the company claims no material financial impact.