Disclosure under Regulation 30 of SEBI (LODR) Regulations 2015 - The Company received order from Deputy Commissioner State Tax, Jodhpur, Rajasthan for FY 2018-19 for Tax, Internet and Penalty.
REFEX · price
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Refex Industries has informed the stock exchanges that it received an order from the Deputy Commissioner of State Tax in Jodhpur, Rajasthan, relating to the financial year 2018-19. The order covers a demand for tax, interest, and penalty under state tax laws. The disclosure was made under SEBI's Listing Obligations and Disclosure Requirements (Regulation 30). The exact amount of the demand has not been disclosed in the headline, and it is unclear whether the company will contest or appeal the order.
Tax penalty orders, if material in size, can increase the company's outgo and reduce near-term profits. Investors should look for follow-up filings that disclose the demand amount and whether Refex plans to appeal, as the final financial impact depends on the outcome.