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Vishal Mega Mart Ltd. ( (IN:VMM) ) has issued an update.
Vishal Mega Mart has disclosed that its subsidiary, Airplaza Retail Holdings Private Limited, has received an order from the CGST Delhi South Commissionerate alleging excess input tax credit claimed for the 2021-22 financial year under Section 73 of the CGST Act. The order raises a total demand of Rs 17.94 lakh, comprising tax of Rs 16.31 lakh and a penalty of Rs 1.63 lakh; the company has stated that the financial impact is confined to this amount and that there is no material effect on its operations or other activities, while the subsidiary reviews the order and considers its next steps.
More about Vishal Mega Mart Ltd.
Vishal Mega Mart Limited is an Indian value-focused retail chain operating in the consumer and general merchandise space, offering a wide range of apparel, household products and daily essentials through its stores and wholesale operations across the country.
Average Trading Volume: 446,937
Technical Sentiment Signal: Hold
Current Market Cap: 636.2B INR
For a thorough assessment of VMM stock, go to TipRanks’ Stock Analysis page.