SML Isuzu Limited has informed the Exchange about Action(s) Disclosure under Regulation 30(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Clause 20 of Para A of Part A of Schedule III.
SMLMAH · price
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SML Isuzu received an appellate order dated 28 April 2025 from the Central GST Appeals Commissionerate, Ludhiana, related to an earlier tax demand of Rs. 104.75 lakhs plus Rs. 10.47 lakhs penalty issued in November 2023. In a largely favourable ruling, the appellate authority dropped Rs. 96.0 lakhs of the demand and Rs. 9.6 lakhs in penalty, while confirming only Rs. 8.6 lakhs of demand and Rs. 0.86 lakhs in penalty, plus applicable interest. The original dispute arose because a supplier, which was undergoing Corporate Insolvency Resolution Process, had failed to deposit GST for July–December 2017. The company has stated it will take further suitable action against the remaining order.
This is a net positive for shareholders — the company's GST liability has been reduced from roughly Rs. 115 lakhs to about Rs. 9.5 lakhs, easing a material financial overhang. The remaining amount is small relative to the company's size and the company may pursue further recourse.