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Seshasayee Paper & Boards Ltd. ( (IN:SESHAPAPER) ) just unveiled an announcement.
Seshasayee Paper & Boards Ltd has received a largely favourable order from the Commissioner (Appeals) in a GST dispute, sharply reducing an earlier tax demand raised by the Additional Commissioner, Salem CGST Commissionerate. The original demand of Rs 712.24 lakhs in tax plus Rs 100.93 lakhs in penalty, relating to alleged short payment of GST under reverse charge mechanism and excess input tax credit claims for FY 2017-18 to 2021-22, has been cut to a demand of Rs 16.00 lakhs with applicable interest and a penalty of Rs 1.06 lakhs, based on a physical copy of the order pending upload to the GST portal, easing a significant potential financial and regulatory overhang for the company and its stakeholders.
More about Seshasayee Paper & Boards Ltd.
Seshasayee Paper & Boards Ltd is an Indian pulp and paper manufacturer based in Tamil Nadu, producing paper and paperboard products for domestic and export markets. The company operates in the paper and packaging industry and is listed on both the National Stock Exchange of India and BSE Limited.
Average Trading Volume: 774
Technical Sentiment Signal: Hold
Current Market Cap: 14.55B INR
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