Intimation/Communication pertaining to ITC & Tax Liability
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Parmeshwar Metal Ltd has received a communication from the Deputy Commissioner of State Tax (Enforcement), Division-03, Gandhinagar, raising a demand related to Input Tax Credit and tax liability from GST Returns for FY 2018-19 under Section 74 of the SGST/CGST Act, 2017. The total demand comprises tax of Rs. 292.16 lakhs, interest of Rs. 346.22 lakhs, and penalty of Rs. 43.82 lakhs, aggregating to approximately Rs. 682.20 lakhs. The company received the order on 30th April 2025 and plans to file a response against the demand notice (DRC 01A). Management has stated that there is no material financial impact on the company at this stage.
The demand is sizeable relative to the company but management asserts no material financial impact as it intends to contest the order. Investors should watch for updates on the company's response and any eventual outcome, as an unfavourable ruling could affect profitability.