Camlin Fine Sciences Receives GST Demand Order of ₹77.98 Lakh

Mumbai, February 5, 2025 – Camlin Fine Sciences Limited has received an order from the Office of the Assistant/Dy. Commissioner of CGST & Central Excise, Division-IV, Palghar Commissionerate. The order pertains to a demand for ineligible Input Tax Credit (ITC) and penalties related to GST on outward supplies for the period July 2017 to March 2023.

Regulatory Order Overview​

• Issuing Authority: Assistant Commissioner, CGST & Central Excise, Division-IV, Palghar Commissionerate.
• Legal Basis: Order passed under Section 74(9) of the CGST Act, 2017, in conjunction with corresponding provisions of the MGST Act and Section 20 of the IGST Act.
• Date of Order Receipt: February 4, 2025.

Financial Implications​

The demand includes:

• Ineligible ITC Claim: ₹42,36,853/-
• Penalty Imposed: ₹77,98,924/-
• Applicable Interest: As per statutory provisions.

Company’s Response and Impact​

Camlin Fine Sciences has stated that the claim is not maintainable and does not materially impact its financial, operational, or other business activities. The company plans to challenge the order before higher courts or authorities within the prescribed timeline.

Investor Considerations​

While the company has affirmed minimal financial impact, investors should monitor further legal proceedings as Camlin Fine Sciences contests the demand. Any adverse ruling in higher courts could have potential financial implications in the future.