MODISON LIMITED has informed the Exchange about Action(s) taken or orders passed by GST Authority
MODISONLTD · price
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Awaiting price reaction for this filing.
Modison Limited has received a demand of Rs. 11,67,229 (about Rs. 11.67 lakhs), including interest and penalty, from the Deputy Commissioner of State Tax in Surat. The demand was raised based on a Final GST Audit Report (Form GST ADT-02) for financial year 2021-22. The authority flagged three discrepancies: mismatch in B2B outward supply between E-way Bill data and GSTR-01 returns, excess Input Tax Credit (ITC) claimed, and excess claim of ineligible ITC. The company has stated that it does not foresee any material impact on its financials, operations, or other activities. It is planning to file an appeal with the appropriate authority within the prescribed timelines.
The demand amount is small (around Rs. 11.67 lakhs) and the company itself says it is not material to financials. Shareholders should note this as a minor tax dispute, with the outcome of the appeal pending. No major share price impact expected from this disclosure alone.