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Bhageria Industries Ltd. ( (IN:BHAGERIA) ) just unveiled an announcement.
Bhageria Industries Ltd. has disclosed that it received a GST demand order from the Office of the Assistant/Deputy Commissioner of CGST and Central Excise, Division-IV, Palghar Commissionerate, relating to input tax credit claims for the period from April 2019 to March 2020. The order confirms a demand of ₹1,05,22,565 in IGST on account of ineligible input tax credit, along with applicable interest and a penalty equal to the tax amount under relevant sections of the CGST Act.
The company stated that it will file an appeal before the Commissioner (Appeals) within the prescribed time and has indicated that the order does not currently impact its financial operations or other activities. For investors and stakeholders, the update signals a tax dispute under litigation, but management’s assertion of no operational or financial impact suggests that the liability is not being treated as immediately material to ongoing business performance.
More about Bhageria Industries Ltd.
Bhageria Industries Ltd. operates in India and is listed on the National Stock Exchange of India and BSE under the scrip name BHAGERIA and code 530803. The company is subject to domestic indirect tax regulations, including the Central Goods and Services Tax (CGST) framework, which directly affects its compliance and reporting obligations as a listed entity.
Average Trading Volume: 4,140
Technical Sentiment Signal: Sell
Current Market Cap: 5.85B INR
For an in-depth examination of BHAGERIA stock, go to TipRanks’ Overview page.