1st February 2025 | Mumbai, India
Indian Hume Pipe Company Limited (BSE: 504741, NSE: INDIANHUME) has disclosed a pending litigation update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has received an order from the Additional Commissioner (State Tax), First Appellate Authority, Tirupati, Andhra Pradesh, concerning alleged excess Input Tax Credit (ITC) claims for the financial years 2018-2019 and 2019-2020.Litigation Details
According to the company’s filing, the Assistant Commissioner of State Tax, Circle II, Anantapur, Andhra Pradesh (GST Department) has raised a tax demand citing excess ITC claims, confirmed by the First Appellate Authority. The key details are as follows:| Financial Year | Tax Demand (₹) | Interest Demand (₹) | Penalty (₹) |
|---|---|---|---|
| 2018-2019 | 2,67,89,458 | 2,78,49,292 | 2,67,89,458 |
| 2019-2020 | 1,93,234 | 1,66,287 | 1,93,234 |
Company’s Response and Strategic Outlook
Indian Hume Pipe has stated its intention to challenge the order by filing an appeal before the GST Appellate Tribunal as soon as it is constituted. The company remains hopeful for a favorable outcome and has clarified that the order does not materially impact its financials, operations, or business activities.This legal development will be closely monitored as the company moves forward with its appeal. Investors and stakeholders are advised to stay informed about further regulatory updates.