Tax & Penalty21 Oct 2026, 05:00 pm
Star Paper Mills Receives ₹1.53 Cr GST Demand Order
AI Summary
Star Paper Mills Ltd has received a tax demand order from the GST Department for the financial year 2023-24. The order includes a demand of ₹1,53,15,432 (Tax: ₹60,39,078, Interest: ₹32,37,276, Penalty: ₹60,39,078) for disallowing input tax credit on raw materials destroyed in a fire. Additionally, a demand of ₹1,58,426 (Tax: ₹61,170, Interest: ₹36,086, Penalty: ₹61,170) was raised under the CST Act for GST on self-consumed paper and miscellaneous receipts. The company plans to appeal the order and states there is no material impact on its financials or operations.
Key Highlights
- Received GST demand order for FY24 amounting to ₹1.53 Crore.
- Demand includes tax, interest, and penalty for disallowed ITC and self-consumed paper.
- Company intends to appeal the order.
- No material impact on financial or operational activities.
Price Impact
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