Shilchar Technologies Limited has informed the Exchange about Action(s) initiated or orders passed
SHILCTECH · price
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On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.6 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shilchar Technologies Limited received a GST order dated 26th March 2026 from the Joint Commissioner of Central Tax, CGST and Central Excise, Vadodara-I. The original demand was Rs. 3.58 crore in GST, Rs. 2.79 lakh interest, and Rs. 2 lakh penalty. The confirmed demand is Rs. 3.21 crore plus Rs. 2.13 lakh interest and Rs. 50,000 penalty. Additionally, a penalty of Rs. 3.19 crore has been imposed under Section 74 of the CGST Act. The matter arose from audit observations related to GST return reconciliation and procedural aspects. The company has already paid Rs. 1.96 lakh tax, Rs. 1.77 lakh interest, and Rs. 50,000 penalty.
The company faces a total confirmed demand of approximately Rs. 6.43 crore (including penalties). However, management believes it has a strong case and expects no material financial impact, as it plans to challenge the order before the First Appellate Authority.