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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.
The Office of the Deputy Commissioner of State Tax (SGST) in Ghaziabad, Uttar Pradesh has issued a demand order dated December 30, 2025 against Rathi Steel & Power under Section 74 of the CGST/SGST Act, 2017. The tax authority has raised a demand of Rs 5,73,33,332 (approximately Rs 5.73 crore) along with a penalty of a similar amount and applicable interest. The alleged issues relate to E-Way Bills and availment of ineligible or excess Input Tax Credit. The company has stated there is no material impact on its financial or operational activities, and it strongly refutes the demand. The company plans to explore legal remedies to contest the order.
The total potential exposure is around Rs 11.46 crore (demand plus penalty) plus interest, which is significant for a small-cap company. However, since the company is contesting the demand, the immediate financial impact is not confirmed. This is a negative overhang and may create short-term uncertainty for shareholders until the matter is resolved.