V-Guard Industries Limited has informed the Exchange about Action(s) taken or orders passed
VGUARD · price
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On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 1.5 pts less than its Household Appliances peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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V-Guard Industries has received a final audit report from the Assistant Commissioner, CGST-Audit Circle, Kashipur, covering FY 2020-21 to 2023-24. The audit identified issues related to inadmissible or excess Input Tax Credit (ITC) availment and short payment in GSTR-9 reconciliation. The short payment of GST communicated amounts to INR 17,76 crore. Interest and penalty amounts are yet to be quantified. The company states this is not a demand order and plans to rebut the audit observations on merits.
While the financial impact is material at INR 17.76 crore, the company has clarified this is not a demand order and intends to challenge the findings, which reduces immediate concern for shareholders.