Sapphire Foods India Limited has informed the Exchange about Action(s) taken or orders passed
SAPPHIRE · price
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Sapphire Foods India has received a show cause notice from the Sales Tax Officer, Ward 205, Zone 11, Delhi, Department of Trade & Taxes, dated 23rd July 2025. The notice, issued under Section 73 of the Central GST Act, 2017 via Form DRC-01, pertains to alleged discrepancies observed in the company's GST returns for FY 2021-22. The total demand is around INR 51 million, which includes interest of INR 19.53 million and a proposed penalty of INR 2.88 million. The company has stated that the claim is not maintainable and that there is no material impact on its financials or operations. It is currently evaluating the notice and plans to file an appropriate response.
The demand of ₹51 million is relatively small for Sapphire Foods and is unlikely to affect operations. However, prolonged tax disputes can create minor overhangs; investors should track the company's response and any potential cash outflow if the matter escalates.