Camlin Fine Sciences Receives Order Regarding Tax Demand
Camlin Fine Sciences Limited announced receipt of an order from the Office of the Assistant/Deputy Commissioner of (CGST & C.Ex.), Division-IV, Palghar Commissionerate, as of March 30, 2026.The order pertains to a demand for 96,65,820 Indian Rupees, comprised of Integrated Goods and Services Tax (IGST). This demand is related to unpaid taxes under Section 74(9) of the CGST Act, 2017, alongside corresponding MGST and IGST Acts. Additionally, applicable interest and a penalty of 96,65,820 Indian Rupees are being levied.
The order stems from a tax liability arising from expenses incurred in foreign currency and reimbursed to foreign subsidiaries, where Reverse Charge Mechanism (RCM) tax was not paid during financial years 2019-20 to 2022-23.
According to Camlin Fine Sciences, the order is not expected to have a material impact on the company’s financial, operational, or other activities. The company intends to file an appeal against the order.
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