CGST Initiates Search at Acutaas Chemicals Limited Gujarat Facility
Tax authorities conducted search proceedings at the registered office and Sachin facility of Acutaas Chemicals Limited, confirming that the process is ongoing, but currently poses no material threat to the company's operations.The Anti-evasion Department of the Central Goods & Service Tax & Central Excise (CGST & CE) in Surat initiated the inspection and search proceedings at the company’s facilities located in Sachin, Surat, Gujarat, on June 22, 2026. The inspection is currently underway, and Acutaas Chemicals Limited has confirmed it is providing full cooperation to the authorities involved in the process.
The search action was executed by officials from the Additional Commissioner of Central Goods & Service Tax & Central Excise in Surat. The proceedings involve a search under subsection (2) of Section 67 of the Central Goods and Services Tax Act, 2017, conducted at the company's manufacturing unit and registered office in Sachin, Gujarat.
Key Details of the Inspection
The details regarding the ongoing tax proceeding are summarized below:
| Detail | Information |
|---|---|
| Authority Responsible | Additional Commissioner of Central Goods & Service Tax & Central Excise, Anti-evasion Department, Surat, Gujarat. |
| Nature of Action | Search under subsection (2) of Section 67 of the Central Goods and Services Tax Act, 2017 at the company’s Registered Office and manufacturing unit situated in Sachin, Surat, Gujarat. |
| Date of Authority Visit | June 22, 2026. |
| Alleged Violations | No communication has been made regarding any violations at this time. |
Business Impact Assessment
Acutaas Chemicals Limited stated that there is no material impact on the financials, business operations, or any other activities of the company resulting from these search proceedings at present. The company affirmed that it will make necessary disclosures should any material update requiring intimation become available.
ACUTAAS Stock Price Movement
On Monday, Acutaas Chemicals Limited finished in modest gains, with shares edging up 0.12% to close at ₹3249.6. The stock saw a traded volume of 206,990 during the session and managed to stay within its daily range, which spanned from ₹3170.2 to ₹3264.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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