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PI Industries Limited ( (IN:PIIND) ) has shared an update.
PI Industries Limited has disclosed that the Office of the Excise and Taxation Officer-cum-State Tax Officer, Bhatinda jurisdiction, has issued an order under Section 73 of the Central Goods and Services Tax Act, 2017, read with the Punjab Goods and Services Tax Act, 2017, raising a tax demand of Rs 3.90 crore, including interest and penalty, for the financial year 2021-22. The demand primarily stems from the disallowance of input tax credits claimed by the company; however, PI Industries has stated that the order is not expected to have any material impact on its financials, operations or other activities and, based on legal advice, it plans to contest the order by filing an appeal before the appropriate authority.
More about PI Industries Limited
PI Industries Limited is an Indian company engaged in the agrochemicals and specialty chemicals sector, operating through manufacturing and related services from its corporate office in Gurgaon, Haryana, and registered office in Udaipur, Rajasthan. The company is listed on both the BSE and the National Stock Exchange under the code PIIND, serving domestic and international markets with its chemical products and solutions.
Average Trading Volume: 9,800
Technical Sentiment Signal: Hold
Current Market Cap: 494.6B INR
For detailed information about PIIND stock, go to TipRanks’ Stock Analysis page.