Intimation regarding Order passed by the GST Department
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Awaiting price reaction for this filing.
Raj Packaging Industries has received an order from the GST department (Assistant Commissioner, Aghapura Circle, Hyderabad) dated April 29, 2025, for FY 2023-24. The order demands Rs. 32.69 lakh as tax and Rs. 3.27 lakh as penalty (total ~Rs. 36 lakh) under Section 73 of the GST Act. The allegation relates to mismatches in RFID in certain bills and allegedly ineligible Input Tax Credit (ITC) claimed by the company. The company states it believes the order lacks merit and plans to file an appeal before the appellate authority. Management has indicated no material impact on the company's financials or operations.
The tax demand of ~Rs. 36 lakh is small relative to typical corporate operations, and the company is confident of a favorable appeal outcome, so immediate impact on shareholders is likely minimal. However, investors should track the appeal outcome as an adverse ruling could set a precedent for similar claims.