Thirumalai Chemicals Receives ₹22.9 Cr Tax Show Cause Notice

Thirumalai Chemicals Ltd has received a show cause notice from the Commercial Tax Department, Ranipet, Tamil Nadu, under Section 73 of the CGST Act, 2017. The notice pertains to alleged output turnover and input tax discrepancies for the fiscal year 2022-23, with total dues (tax, interest, and penalty) amounting to ₹2292.66 lakhs (approximately ₹22.93 crore). The company believes the demands are erroneous and not sustainable, and expects any financial implication to be insignificant and not materially impact its financial position. A response will be submitted within the prescribed timelines.