Update on Industry Standards on Reg 30 of SEBI LODR - Action taken or order passed already intimated on 20 May 2025.
NESCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nesco Limited has received an intimation from the Office of the Assistant Commissioner of State Tax (GST), Gujarat, demanding payment of Rs. 1.79 crore in GST, Rs. 1.16 crore in interest, and Rs. 0.18 crore in penalty — totalling Rs. 3.13 crore. The demand relates to alleged excess input tax credit claimed on inward supplies for FY 2021-22, issued under Section 73(5)/74(5) of the CGST/IGST Act, 2017 via Form DRC-01A. The company plans to file its objection in Part B of the form within the stipulated time. Management has stated the intimation has no material impact on the company's financials, operations, or activities.
While the Rs. 3.13 crore demand is relatively small for Nesco, investors should watch the company's response and any potential escalation. The management's 'no material impact' stance suggests they are confident in overturning the demand through the objection process.