Piramal Enterprises Limited has informed the Exchange about intimation under Regulation 30 of SEBI Listing Regulations - Reduction in GST demand including penalty amount - GST Appellate Authority Order
Awaiting price reaction for this filing.
Piramal Enterprises received a favorable order from the GST Appellate Authority on 29th May 2025. The original GST demand of Rs.1,502 crore (tax, interest, and penalty) raised by the Deputy Commissioner of State Tax, Maharashtra has been drastically reduced to just Rs.9.22 crore. The Appellate Authority, after examining the facts and the company's submissions, concluded that Piramal had complied with the applicable GST provisions. The company describes this as a significant vindication of its position that it acted in good faith and within the regulatory framework. This update follows the company's earlier intimation dated 28th February 2025 about the original large demand.
This is a strongly positive development for shareholders, as the Rs.1,492.78 crore reduction in liability removes a major overhang on the stock. The favorable ruling should improve investor confidence and reduce provisioning pressure on the company's books.