January 31, 2025
Tega Industries Limited (BSE: 543413, NSE: TEGA) has received a GST Demand Order dated January 30, 2025, from the Office of the Assistant Commissioner, CGST & CX, Rashbehari Division, Kolkata South Commissionerate.Key Details of the GST Demand Order
| Particulars | Details |
|---|---|
| Issuing Authority | Assistant Commissioner CGST & CX, Rashbehari Division, Kolkata South Commissionerate |
| Legal Basis | Order passed under Section 74 of the CGST Act, 2017 |
| Tax Period | July 2017 – March 2018 |
| Tax Demand | ₹28,05,071 |
| Interest | Applicable (Not quantified) |
| Penalty | ₹28,05,071 |
| Allegation | Availment of ineligible credits of Cesses into GST TRAN-1 by the company |
| Date of Receipt | January 30, 2025 |
| Financial Impact | No material impact on financials, operations, or other activities of the company |
| Company's Response | Tega Industries plans to file an appeal against the order |
Management Response
Tega Industries has confirmed that while the demand order involves a total tax liability of ₹28.05 lakh with an equivalent penalty, the company does not expect any material financial or operational impact due to this development. The company intends to challenge the order through an appeal.Regulatory Compliance
This intimation was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.Investors and stakeholders are advised to track further regulatory updates and appeals related to this case.