MOIL Limited has informed the Exchange about Action(s) taken or orders passed
MOIL · price
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Awaiting price reaction for this filing.
MOIL Limited has received an order from the Joint Commissioner of State Tax, Madhya Pradesh, under Section 73(9) of the CGST/SGST Act, 2017, for financial year 2021-22. The order relates to alleged mismatches in GST returns — GSTR-3B vs GSTR-9, GSTR-1 vs GSTR-3B, and GSTR-2A vs Inward E-Way Bill — along with related issues and penalty. The total demand, including GST and penalty, is Rs. 2,56,79,562 (approximately Rs. 2.57 crore). The company has stated the order has no immediate operational impact and that it will examine the order and file an appeal within the prescribed time under the GST Act.
The financial impact is relatively small at around Rs. 2.57 crore for a company of MOIL's size, and the company has not flagged any material operational concern. Shareholders should watch for updates on the appeal outcome, as a final adverse order could lead to the cash outflow materialising, but the disclosure itself is unlikely to move the stock significantly.