Clean Science GST Proceedings Concluded, ₹2 Cr Net Impact
Clean Science and Technology Ltd announced the conclusion of GST search and seizure proceedings initiated by the Maharashtra Goods and Services Tax Department. The proceedings, which began on September 23, 2026, concluded on September 29, 2026. The department determined a GST liability of ₹9.9 crore under the Reverse Charge Mechanism (RCM), which the company is eligible to avail as Input Tax Credit. Additionally, interest and non-creditable tax liabilities amounting to ₹2.0 crore were determined. The company has decided to settle this ₹2.0 crore liability, representing the net financial impact. Operations were not disrupted, and the financial impact is considered negligible. The company reaffirms its commitment to compliance and cooperation with authorities.
Key Highlights
- GST search and seizure proceedings concluded by Maharashtra GST Department.
- ₹9.9 crore GST liability determined under RCM, eligible for Input Tax Credit.
- Net financial impact of ₹2.0 crore towards interest and non-creditable taxes.
- No disruption to business operations; financial impact negligible.
- Company reiterates commitment to compliance and cooperation.
Price Impact
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