Key Highlights of the Order:
| Particulars | Details |
|---|---|
| Issuing Authority | Office of the Assistant Commissioner of GST & Central Excise, Poonamallee Division, Chennai Outer Commissionerate |
| Nature of Order | Issued under Section 74(1) & 74(9) of the CGST/TNGST Act, 2017, read with Section 20 of the IGST Act, 2017 |
| Date of Receipt | February 4, 2025 |
| Alleged Violation | Demand for tax short-paid for the period July 1, 2017 – July 17, 2022 |
| Tax Demand | ₹85,43,724/- |
| Interest & Penalty | Equal to tax demand – ₹85,43,724/- |
Impact on Financials and Operations
Despite the substantial tax demand, Kokuyo Camlin Limited has stated that there is no material impact on its financials, operations, or other business activities. The company has also confirmed that the order is appealable, and it intends to file an appeal against the demand.Company Statement
Vipul Bhoy, Company Secretary & Compliance Officer, stated: "We have received the GST demand order and are currently evaluating legal options. We will be filing an appeal against the order, and we do not foresee any significant impact on our financial performance or operations."Next Steps
The company’s management will pursue legal remedies and is expected to file an appeal within the prescribed timeframe. Investors are advised to monitor further regulatory updates regarding the matter.Kokuyo Camlin Limited, a leading player in the stationery and art material industry, continues to focus on its core business operations despite the ongoing tax proceedings.