Supreme Petrochem Limited has informed the Exchange about General Updates
SPLPETRO · price
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Awaiting price reaction for this filing.
Supreme Petrochem has received a Show Cause Notice dated May 7, 2025 from the Commercial Taxes Department, Government of Tamil Nadu, related to FY 2021-22. The alleged violation involves inappropriate disclosure of GST liability in the annual return (GSTR-9). The total demand is Rs. 40.30 crore in GST (CGST+SGST+IGST), Rs. 26.17 crore in interest, and Rs. 4.04 crore in penalty, putting the total potential exposure at around Rs. 70.51 crore. The company is filing objections with supporting documents and expressed confidence of getting relief. The company stated the notice has no major impact on its financial or operational activities as it is being contested.
While the combined demand of ~Rs. 70.5 crore is sizeable, the company is contesting the notice and expects relief, so it may not result in an actual payout. However, until resolved, the overhang could create some uncertainty for shareholders and potentially pressure the stock if outcomes turn unfavorable.