Disclosure under Reg 30- intimation for Imposition of penalty is attached here
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Mercury Laboratories Ltd has received an order from the Additional Commissioner (Appeals), CGST, Vadodara, disallowing certain Input Tax Credit (ITC) claims. The total demand raised is INR 3,54,166, which includes a penalty component of INR 32,197. The order was received on April 15, 2025, under Section 73 of the CGST Act, 2017. The company disagrees with the demand and intends to file an appeal before the relevant tribunal. The company has clarified that this order will not have any material impact on its financials, operations, or other activities.
The penalty amount is small relative to typical corporate operations and the company itself states there is no material financial or operational impact. Shareholders are unlikely to see any meaningful effect on the stock price from this disclosure.