GST order received, no financial impact - matter resolved
UHTL · price
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United Heat Transfer received a GST ASMT-12 order from the Deputy Commissioner of State Tax. The order accepted the company's reply against an earlier notice about a Rs. 7.63 lakh GST discrepancy for FY 2022-23, which stemmed from a Debit Note wrongly reported under sales. The company had already rectified the error in August 2022. Tax dues and Input Tax Credit have been determined at nil, so the matter is closed with no material impact on finances or operations.
Favorable outcome - zero tax liability determined, no financial or operational impact. Positive for shareholders.