Intimation of order from the office of the Superintendent of CGST and Central Excise, Range - III, Chennai North Commissionerate.
ULTRAMAR · price
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Awaiting price reaction for this filing.
Ultramarine & Pigments has received an order dated 29.12.2025 from the Office of the Superintendent of CGST and Central Excise, Range-III, Ambattur, Chennai North Commissionerate. The order relates to two issues: (1) non-payment of IGST on supplies declared as SEZ supplies for FY 2022-23 due to non-furnishing of endorsement, and (2) wrongful availment of input tax credit (ITC) on invoices where the supplier had not actually paid the tax, covering FY 2018-19 to FY 2022-23. The demand includes tax, interest, and penalty components, with a total potential outflow of around Rs. 15.09 lakh if the matter is decided against the company. The company is evaluating the order and considering filing an appeal.
The financial impact is minimal — the company itself states the demand of about Rs. 15 lakh is insignificant and will not materially affect its financial position. Shareholders are unlikely to see any meaningful effect on stock price or operations.