Rashi Peripherals Limited has informed the Exchange about order passed by Assistant Commissioner of GST & Central Excise, Chennai
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Rashi Peripherals has received a tax order from the Assistant Commissioner of GST & Central Excise, Chennai North Commissionerate, dated December 31, 2025, confirming a total demand of approximately Rs. 1.96 crore (Rs. 1,77,86,543 as tax and Rs. 17,78,654 as penalty) for Financial Year 2021-22. The order alleges wrongful availment of Input Tax Credit (ITC) on imports and excess ITC claims by the company. The company will treat this demand as a contingent liability in its financial statements. Management believes the demand is unjustified and is in discussion with tax consultants to file an appeal against the order.
The demand of around Rs. 1.96 crore is relatively small for the company and will be shown only as a contingent liability, not an immediate cash outflow, until the appeal is resolved. Shareholders should watch for updates on the appeal outcome, but the near-term impact on the stock is likely limited.