V-Guard Industries Limited has informed the Exchange about Action(s) initiated or orders passed
VGUARD · price
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V-Guard Industries has received a GST demand notice from the Assistant Commissioner of Central GST, Gangtok Division, Sikkim, alleging excess budgetary support received by its units under the GST Regime (per DIPP Notification dated October 5, 2017). The demand covers the period from FY 2017-18 to FY 2024-25, totaling approximately ₹20.70 crore, which includes a tax component of about ₹14.90 crore and interest of around ₹5.80 crore. The company has stated that it believes it has strong grounds to defend against the demand and is currently evaluating its options. No penalty beyond the tax and interest demand has been imposed, and the matter is not yet concluded.
This is a tax-related demand and not a final order. While the ₹20.7 crore amount is notable, the company has expressed confidence in defending its position. Investors should monitor the outcome, as an adverse ruling could impact financials, but no immediate material impact is expected unless the company loses the dispute.