Eureka Forbes Gets Partial Relief in Rs 16.22-Crore GST Dispute

Eureka Forbes Limited ( (IN:EUREKAFORB) ) has issued an update.

Eureka Forbes Limited has updated the exchanges on an ongoing tax litigation concerning an assessment order issued by the Joint Commissioner, CGST & Central Excise Bhopal, which had raised a demand of Rs 16.22 crore plus penalty for alleged excess input tax credit and short payment of tax for financial years 2018–19 to 2022–23. The company challenged this order via a writ petition before the High Court of Madhya Pradesh at Jabalpur, which has now directed that no coercive action be taken against Eureka Forbes provided it deposits 10% of the disputed tax demand, a payment the company has begun processing; it also stated that it does not currently foresee any material impact on its financials, operations or activities from this dispute, offering reassurance to shareholders and other stakeholders while the matter remains sub judice.

More about Eureka Forbes Limited

Eureka Forbes Limited is a listed Indian company best known for its consumer durables and home solutions, including water and air purification products, with a broad retail and service footprint across the country.

Average Trading Volume: 13,793

Technical Sentiment Signal: Buy

Current Market Cap: 120.8B INR

See more data about EUREKAFORB stock on TipRanks’ Stock Analysis page.