VST Industries Faces Rs. 73,78,194 Demand Order Under CGST Act for Delayed Refund Payments

VST Industries Ltd. has received an order under Section 74 of the CGST Act/The Goods and Services Tax Act, 2017 for non-payment of refund amount proportional to the value of exports within the stipulated time during FY 20-21 to FY 23-24 for the State of Andhra Pradesh. The order is for a total amount of Rs. 73,78,194, including penalty. The order was received on 07.04.2026. The demand order has been issued for non-payment of refund amount on which export proceeds are not realized with in the stipulated time. The company does not agree with the demand and will take appropriate appellate action.