Tax & Penalty15 Oct 2026, 03:26 pm
Greenply Industries Faces ₹2.15 Crore Tax Demand & Penalty
AI Summary
Greenply Industries Ltd has received an order from the Assistant Commissioner of Central Tax, CGST & CX, Bishnupur Division, Kolkata. The order pertains to the FY 2020-21 to FY 2023-24 and disallows Input Tax Credit (ITC) availed. The total tax demand amounts to ₹1,07,81,972, with an equal penalty of ₹1,07,81,972, plus applicable interest. The company stated that it has fulfilled all conditions for ITC and believes it has a strong case on merits. Greenply plans to file a rectification and/or appeal against the order within the prescribed timelines. The company asserts that there will be no material impact on its financial or operational activities.
Key Highlights
- Tax demand of ₹1.07 Crore issued by Central Tax authority.
- Equal penalty of ₹1.07 Crore also imposed.
- Company disputes the demand and plans to appeal.
- No material financial or operational impact expected.
Price Impact
More from GREENPLY