Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sandu Pharmaceuticals informed the stock exchanges that proceedings related to a show cause notice from the Maharashtra Goods and Service Tax Department have been concluded. The original notice pertained to an excess Input Tax Credit (ITC) claim of Rs. 52.14 lakh in GSTR 3B that was not available in GSTR 2A. After submitting reconciliations, the GST authority allowed the bulk of the ITC claim and dropped the proceedings. The company accepted and paid a small additional liability of Rs. 2,22,216 on excess ITC and Rs. 34,606 on RCM and cancelled supplier ITC mismatches, totalling roughly Rs. 2.57 lakh. The company stated there is no major financial or operational impact.
The matter is now closed with a negligible financial impact of about Rs. 2.57 lakh on the company. Shareholders are unlikely to see any meaningful effect on earnings or stock price, as the issue was resolved favourably with most of the ITC claim being allowed.