OAL receives GST show cause notice over vendor transactions
OAL · price
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On the reaction day the stock moved 13.0 pts more than Nifty Microcap 250 and 12.8 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Oriental Aromatics received a GST show cause cum demand notice from the Central GST and Central Excise office in Vadodara. The notice relates to transactions with a vendor whose GST registration was suspended and is now seen as non-existent, covering April 2020 to March 2025. It proposes recovery of IGST input tax credit of about 95.69 lakh rupees plus applicable interest and penalty, along with an additional penalty of about 15,962 rupees. No liability has been crystallized yet, and the company will file its response within the prescribed timeline.
No immediate financial impact; potential demand of about 95.85 lakh rupees plus interest and penalty if not resolved. Company will respond.