Key Details of the GST Order
| Particulars | Details |
|---|---|
| Authority | Assistant Commissioner (ST), Salem, Tamil Nadu |
| Nature of Action | Demand for GST with interest and penalty |
| Penalty Amount | ₹28,42,30,92/- (₹28.42 crore) |
| Assessment Years | 2018-19, 2019-20, and 2020-21 |
| Date of Order Receipt | 29 January 2025 |
| Alleged Violation | Irregular availment and utilization of Input Tax Credit (ITC) |
| Impact on Company | No material impact on financials or operations |
Company's Response
The company stated that the orders do not have a material impact on its financials, operations, or other activities. It is evaluating all available options, including filing an appeal against the order.This disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with regulatory transparency norms.
Market Impact & Investor Perspective
While regulatory actions of this scale can raise investor concerns, Godfrey Phillips has indicated that this GST order will not materially affect its operations. Investors will likely monitor the company's legal recourse and any subsequent financial disclosures closely.For further details, investors and stakeholders are advised to refer to the company’s official filings.