Graphite India Clarifies GST Order Delay, Details Tax Demand

Graphite India Ltd has provided a clarification to the BSE regarding a delay in disclosing an order received from the GST Department. The company explained that the email was missed due to oversight and the disclosure was filed immediately upon realization. The disclosure pertains to an order under Section 73 of the CGST/WBGST Act, 2017, where the appeal was partially allowed, modifying the order. The company has been served with a tax demand of ₹35,98,869, interest of ₹35,52,232, and penalty of ₹3,59,886 related to excess availment of Input Tax Credit (ITC). Graphite India states there is no material financial impact, asserting it has availed only eligible ITC, and is reviewing the order to prefer an appeal.