SEDEMAC Mechatronics Limited has informed the Exchange about Action(s) initiated or orders passed
SEDEMAC · price
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SEDEMAC Mechatronics Limited has disclosed receiving GST Show Cause Notices (Form GST DRC-01) from the Assistant Commissioner, Commercial Taxes Department of Tamil Nadu. The notices cover financial years 2022-23 and 2023-24 under Section 73 of the CGST/SGST Act, 2017. The total tax demand is ₹2.13 crore (₹76.07 lakh for FY22-23 and ₹1.38 crore for FY23-24), with additional penalties of ₹21.36 lakh, bringing the total demand to approximately ₹2.35 crore. The allegations include short payment of tax under reverse charge mechanism, incorrect reversal of output tax on credit notes, excess input tax credit claimed, and violation of Rule 138. The company plans to file objections and attend a personal hearing by June 9, 2026, and does not expect material financial impact.
This is a tax compliance matter from a state GST authority, not a regulatory penalty. While the total demand is ₹2.35 crore, the company expects no material financial impact and will contest the notices. It is a routine tax dispute and does not directly affect stock price unless the demand is upheld in future.