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Mangalam Cement Ltd ( (IN:MANGLMCEM) ) has provided an update.
Mangalam Cement Limited has received an order from the Additional Commissioner of Central Excise & CGST Commissionerate, Udaipur, regarding the disallowance of Cenvat Credit amounting to Rs. 1,37,37,640, along with an equivalent penalty. The order, which impacts the company’s financials by Rs. 2,74,75,280, relates to the alleged wrongful availment of Cenvat Credit on purchases made between 2006 and 2012. Mangalam Cement plans to appeal the decision under the Central Excise Act, indicating potential future legal proceedings.
More about Mangalam Cement Ltd
Mangalam Cement Limited operates in the cement industry, focusing on the production and distribution of cement products. The company is known for its commitment to quality and sustainability in its operations, catering to a diverse market with a range of cement products.
YTD Price Performance: -25.34%
Average Trading Volume: 5,500
Current Market Cap: 20.34B INR
Find detailed analytics on MANGLMCEM stock on TipRanks’ Stock Analysis page.