Tembo Global Industries Limited has informed the Exchange about investigation intiated by MGST
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Tembo Global Industries has informed the stock exchange that the Maharashtra Goods and Services Tax (MGST) Department conducted an investigation under Section 67 of the MGST Act, 2017. The department raised discrepancies related to GST provisions under sections 9(4), 16(2), and 17(5), which the company is currently assessing and verifying. The company has voluntarily deposited Rs. 35 lakhs under protest, without admitting any liability, pending the outcome of the proceedings. The communication from the department was received on February 24, 2026. The company stated that apart from the monetary impact of the liabilities raised, there is no material impact on its financial or operational activities.
The Rs. 35 lakh deposit under protest is relatively small for a listed company, but the outcome of the GST investigation could lead to additional demands or penalties. Investors should monitor the final ruling, as an adverse outcome may increase the financial liability, though the company currently claims no material operational impact.