Mukka Proteins Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
MUKKA · price
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On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 1.7 pts less than its Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mukka Proteins informed the exchange of an update on a previously disclosed GST tax demand of approximately Rs. 9.83 crore (IGST Rs. 9.18 crore, CGST Rs. 32.15 lakh, SGST Rs. 32.15 lakh) raised by the Additional Commissioner of Central Excise & GST, Mangaluru for the period FY2019-20 to FY2022-23. The company had appealed this demand before the Commissioner of Central GST and Central Excise (Appeals), but that appeal has now been rejected, with the original tax order being upheld. The company stated it reasonably expects a favorable outcome at the higher Appellate Authority level and plans to challenge the order further. Management has clarified that there is no material impact on the company's financials, operations, or other activities from this demand.
This is an unfavorable ruling at the first level of appeal, but the company is pursuing further legal recourse. While management has downplayed financial impact, unresolved tax disputes of this size can create ongoing uncertainty for shareholders and may attract cautious investor attention.