Nuvoco Vistas Corporation Limited has informed the Exchange about the demand order received from the Assistant Commissioner, Commercial Tax, Chhattisgarh
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Nuvoco Vistas has received a demand order from the Additional Commissioner, Commercial Tax, Raipur, Chhattisgarh, dated June 9, 2025. The order seeks to impose 10% entry tax on the movement of a mixture of limestone and other inputs inside the factory, covering four financial years from FY 2003 to FY 2006. The total demand amount is approximately Rs. 16.66 crore, which includes tax and interest. The company plans to file an appeal and writ petition before the Chhattisgarh High Court, arguing that the demand is barred by the limitation period (23 years old) and was arbitrarily calculated on assumed quantities. The company has stated that this demand is unlikely to sustain and will not have any major financial impact.
The company itself says the financial impact will be minimal as it plans to challenge the order. However, the stock may see short-term volatility as the Rs. 16.66 crore demand is disclosed, even though it relates to a very old period (FY 2003-2006) and is being contested.