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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Panchmahal Steel has disclosed two GST appeal orders received on 13 July 2026 from the Deputy Commissioner of State Tax, Appeal-5, Vadodara, related to disallowance of Input Tax Credit for the period 1 July 2017 to 31 March 2018. In the first appeal (dated March 2024), the company got substantial relief — original demand of Rs.79.18 lakh was reduced to a pending demand of only Rs.2.26 lakh. In the second appeal (dated July 2022), the appeal was rejected in full, leaving a pending demand of Rs.31.63 lakh with no relief granted. Total outstanding tax demand stands at about Rs.33.89 lakh. The company has stated there is no material impact on financials or operations and is reviewing both orders to decide on further appeal.
The financial impact is small — total pending tax demand of roughly Rs.34 lakh is minor for the company. However, one of the appeals was fully rejected, which may warrant further legal action. Investors should watch for any follow-up filings if the company decides to escalate.