Nuvoco Vistas Corporation Limited has informed the Exchange about a demand order received The Assistant Commissioner, Commercial Tax, Raipur Chhattisgarh
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Nuvoco Vistas has received a demand order from the Assistant Commissioner, Commercial Tax, Raipur on June 5, 2025. The order relates to entry tax on movement of limestone mixtures inside the factory for FY 2016-17, where the authority has demanded 10% entry tax despite the company already paying and the department having accepted 1% entry tax in earlier assessments. The total demand across 4 orders is approximately Rs. 3.49 crore, covering tax, interest, and penalty. The company plans to file a writ petition in the Chhattisgarh High Court to challenge the demand, citing that it is barred by limitation and was issued under a section that does not permit orders prejudicial to the assessee. Management has stated the demand is unlikely to survive legal challenge and will not have a major financial impact.
The demand amount of Rs. 3.49 crore is small relative to Nuvoco's overall size and operations, and the company has expressed confidence in successfully challenging it. Shareholders are unlikely to see a material impact, though the matter will be watched until the High Court ruling comes through.