Parmeshwar Metal receives ₹7.66 Cr GST demand, plans appeal

Parmeshwar Metal Ltd has received an order from the GST Authority, Gujarat, dated April 15, 2026. The order confirms a demand for ₹1.59 Crore in tax along with ₹6.07 Crore in interest and penalties, totaling ₹7.66 Crore, under the CGST Act, 2017 / GJGST Act, 2017. The issue pertains to alleged inadmissible Input Tax Credit (ITC) from non-existent suppliers or tax defaulters. The company intends to file an appeal before the Appellate Authority, stating that the demand is without merit and is expected to be set aside. Parmeshwar Metal does not foresee any material impact on its financial, operational, or other activities.