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Camlin Fine Sciences Limited ( (IN:CAMLINFINE) ) has shared an update.
Camlin Fine Sciences has disclosed that it has received an order from the Assistant Commissioner, Office of the Asst./Dy. Commissioner of CGST & Central Excise, Palghar Commissionerate, demanding reversal of allegedly ineligible input tax credit (ITC) totaling Rs 48.58 lakh for FY 2018-19 and 2019-20, along with applicable interest and a 50% penalty under various provisions of the CGST, SGST/MGST and IGST Acts. The order, which relates to purported short or non-reversal of ITC on exempt, nil-rated and non-GST supplies as per discrepancies between GSTR-3B and GSTR-9 filings, is not expected to have a material impact on the company’s financial or operational activities, and the company has stated it is in the process of filing an appeal against the tax demand.
More about Camlin Fine Sciences Limited
Camlin Fine Sciences Limited operates in the specialty chemicals sector, supplying fine chemicals and additives, including antioxidants and performance chemicals, used across food, feed, and industrial applications. The company focuses on both domestic and international markets, serving sectors that require shelf-life solutions and high-performance chemical inputs.
Average Trading Volume: 23,056
Technical Sentiment Signal: Buy
Current Market Cap: 27.91B INR
See more insights into CAMLINFINE stock on TipRanks’ Stock Analysis page.