Kolkata, February 3, 2025 – Emami Paper Mills Limited has provided an update on regulatory proceedings concerning Demand-Cum-Show Cause Notices (SCN) received from the GST Authority, as disclosed in its filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Regulatory Developments
The company received three separate GST orders from regulatory authorities related to previously issued SCNs. The details of these orders are as follows:| SCN Number | Authority Issuing Order | Decision |
|---|---|---|
| SCN 1 | Assistant Commissioner, Central GST & Central Excise, Balasore Division, Odisha | Demand of ₹39,92,962 for FY 2017-18 dropped as unsustainable under law. |
| SCN 2 | Assistant Commissioner, Central GST & Central Excise, Balasore Division, Odisha | Demand of ₹66,33,456 dropped, but ₹2,04,896 of ITC disallowed, with interest and penalty levied. |
| SCN 3 | Superintendent, CGST & Central Excise, Balasore-II Range, Odisha | Original demand of ₹8,04,040 reduced to ₹5,54,632, with interest and penalty applicable. |
Impact and Next Steps
- Minimal Financial or Operational Impact: Emami Paper Mills has stated that the orders do not have a material financial or operational impact on the company.
- Potential Legal Recourse: The company is currently evaluating whether to challenge the unfavorable portion of the orders before higher courts or authorities within the prescribed timeframe.
