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Adani Wilmar Limited ( (IN:AWL) ) has provided an announcement.
AWL Agri Business Limited has disclosed that it received an order from the Office of the Assistant Commissioner of State Tax, Gujarat, imposing a penalty of Rs 80.59 lakh under Section 74 of the Central Goods and Services Tax Act, 2017, and the Gujarat Goods and Services Tax Act, 2017. The penalty arises from a demand order linked to disallowance of input tax credit under Section 16 of the CGST/GGST Acts, following the retrospective cancellation of registrations of certain suppliers. The company plans to appeal the order before the appropriate authority and has stated that it does not expect any material impact on its financial, operational or other activities, suggesting limited immediate risk for shareholders and business partners despite the regulatory setback.
More about Adani Wilmar Limited
AWL Agri Business Limited, formerly known as Adani Wilmar Limited, operates in the agri-business and food processing sector, dealing in edible oils and related agri products for the Indian market and beyond. Headquartered in Ahmedabad, Gujarat, the company positions itself as a key player in supplying staple food and agri commodities to support a growing nation.
Average Trading Volume: 1,323,990
Technical Sentiment Signal: Sell
Current Market Cap: 311.1B INR
For a thorough assessment of AWL stock, go to TipRanks’ Stock Analysis page.