The Directorate General of GST Intelligence ,ahmedabad Zonal unit has Recently initiated a search/ Inspection Of Raghuvir Synthetics Limited. the company made a payment under protest.
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The Directorate General of GST Intelligence (DGGI), Ahmedabad Zonal Unit has initiated a search and inspection at Raghuvir Synthetics Limited's premises at Rakhial Road, Ahmedabad under Section 67 of the Central GST Act, 2017. The company fully cooperated with officials and confirmed that day-to-day operations have continued without disruption. Upon oral instructions, the company made a payment of Rs. 1.88 crores under protest, though no details of any alleged violation have been shared yet. The written communication from the authority is awaited, and the financial or operational impact cannot be quantified at this stage. The company has committed to keep the stock exchange informed of any further material developments.
Short-term sentiment may turn cautious as the matter is unresolved and the nature of alleged violations is unknown, but operations remain unaffected. The Rs. 1.88 crore payment under protest is a relatively small sum, but any escalation could put pressure on the stock.