Revised Intimation - Update on litigation.
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 a revised Show Cause Notice from the Assistant Commissioner of State Tax, Porbandar, in connection with an earlier GST demand related to FY 2021-22. After the company filed a detailed reply on 23 September 2025 denying the allegations, the proposed demand has been slashed from ₹141.06 crore to just ₹27.16 lakh (split as SGST ₹3.04 lakh, CGST ₹3.04 lakh, IGST ₹5.35 lakh and Cess ₹15.74 lakh, plus interest and penalty). The company had already voluntarily made payments where applicable and submitted reconciliations. Mukka Proteins says it will contest the revised demand as well, calling it 'untenable in law and on facts' and reiterating that no material financial liability is expected.
Positive for shareholders — the original ₹141 crore demand was a major overhang and has been reduced by over 99%, significantly lowering worst-case tax exposure. However, the matter remains open as the company plans to challenge the residual demand, so some uncertainty lingers until the case is fully resolved.