Announced Mon, 15 Jun · 18:31 IST
GST order confirming Rs 1.35 cr tax demand; company to appeal
Regulatory & Legal View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+3.9%1-day move
₹189.05
prior close
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base price
After-mkt
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AI summary
Parmeshwar Metal received an order from the GST Appellate Commissioner in Ahmedabad confirming a tax demand of Rs 1.35 crore plus interest and equal penalty under CGST/GJGST Act. The dispute relates to alleged inadmissible or fraudulent Input Tax Credit (ITC). The company plans to file an appeal before the Appellate Tribunal and believes the demand lacks merit and will be set aside. It does not expect any material impact on its financials or operations.
Likely market impact
Tax demand of Rs 1.35 cr plus interest and penalty; company contesting via appeal. Likely limited long-term impact if appeal succeeds.