Raghuvir Synthetics Receives ₹3.76 Cr GST Demand Notice
Raghuvir Synthetics Ltd has received an intimation from the GST Department regarding a demand of approximately ₹3.76 crore, comprising tax, interest, and penalty. This notice pertains to the GST proceedings for FY 2020-21 and FY 2021-22, specifically concerning the availment and utilisation of Input Tax Credit (ITC). The company notes that this amount is significantly higher than the ₹1.88 crore mentioned in a previous disclosure for the same matter. Raghuvir Synthetics is seeking clarification from the GST authorities regarding this discrepancy and maintains that ITC was appropriately availed. The company states there is no material impact on its operations and will continue to monitor the situation.
Key Highlights
- Received GST demand notice for ₹3.76 crore for FY 2020-21 & 2021-22.
- Amount is higher than the ₹1.88 crore previously disclosed.
- Company is seeking clarification on the discrepancy from GST authorities.
- Raghuvir Synthetics believes ITC was appropriately availed.
- No material impact on company operations reported.
Price Impact
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