Tax & Penalty6 Nov 2026, 06:10 pm
Apcotex Industries fined ₹16.37 Lakhs for GST violations
AI Summary
Apcotex Industries Ltd has received an order from the Assistant Commissioner, CGST & C. EX. Raigad, imposing a penalty of Rs. 16,36,985/- (Rs. 16.37 Lakhs) for alleged ineligible or excess Input Tax Credit (ITC) availed and ITC distribution in the wrong proportion. The penalty pertains to the GST audit for the period April 2020 to March 2024. The company is currently evaluating the order with legal counsel and does not anticipate a material financial impact.
Key Highlights
- Apcotex Industries fined Rs. 16.37 Lakhs by CGST authorities.
- Penalty relates to alleged GST Input Tax Credit (ITC) violations.
- The period under review is April 2020 to March 2024.
- Company expects no material financial impact from the order.
Price Impact
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