MOIL Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
MOIL · price
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MOIL Limited has won its appeal against a GST demand related to MPGATSVA payments made to the Madhya Pradesh Mining Department under the reverse charge mechanism. The original order had confirmed a GST demand of Rs. 20.29 crore (Rs. 2028.93 lakhs) along with an equal penalty of Rs. 20.29 crore and interest of approximately Rs. 15-18 crore, bringing the total exposure to Rs. 55-58 crore. The Commissioner (Appeals), CGST & Central Excise, Bhopal, through an order dated 29.01.2026, set aside the original order-in-original dated 13.12.2024. As a result, the entire tax demand, penalty, and interest have been quashed, and no liability survives as on date, though the Department retains the right to file a further appeal.
This is a significant positive development for MOIL shareholders, as a potential liability of Rs. 55-58 crore has been eliminated from the books, strengthening the company's financial position. The outcome removes a major contingent liability, though the Department may still challenge the appellate ruling in a higher forum.