Mukka Proteins Limited has informed the Exchange about receipt of GST Notices
MUKKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mukka Proteins has received two GST notices from the Directorate General of GST Intelligence (DGGI), Belagavi Zonal Unit, alleging ineligible claim of Input Tax Credit (ITC) on services availed in connection with its IPO. The disputed period covers FY 2021-22 to 2024-25. The tax authority has raised a total demand of approximately ₹7.82 crore (₹4.37 crore for FY21-24 and ₹3.45 crore for FY25), including tax, interest, and penalty, with a deadline of 27.08.2025 to either pay or respond. The company has stated that the demand is not maintainable, plans to file an appeal, and does not foresee any material impact on its financials or operations.
While the demand of ~₹7.82 crore is not negligible, the company's confidence in contesting it and the lack of expected operational impact suggest limited long-term damage. Short-term, the stock may see mild negative sentiment as investors assess the tax dispute risk.