VIP Industries Limited has informed the Exchange that Goods & Service Tax Department, Maharashtra have concluded their inspection/search proceedings.
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The Maharashtra GST Department has concluded its inspection/search proceedings against VIP Industries, which were carried out under Section 67 of the Maharashtra GST Act, 2017. The proceedings concluded on March 2, 2026, and the company received the certified copy of the deposition on March 6, 2026. The company clarified that no material adverse finding, default, or suppression of information was attributed to it. VIP Industries has paid a GST liability of Rs. 5.48 crores (including interest) and stated there is no material impact on its financials, operations, or other activities.
The matter has been closed without any adverse findings against the company, and the relatively small GST liability of Rs. 5.48 crores has already been paid. This is largely a non-event for shareholders, though it may provide minor relief as the uncertainty around the inspection is now resolved.