Vishal Fabrics Ltd: GST Appeal Order Determines Demand as Zero

Vishal Fabrics Ltd has received a Final Order from the Office of the Commissioner (Appeals) Central GST, Ahmedabad, which determines the demand after appeal as zero. This follows an earlier order that imposed a penalty of ₹24,26,74,876, which was later revised to ₹21,35,65,819. The company, based on its assessment and legal advice, believes there will be no material financial impact. The intimation was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.