Deepak Nitrite Faces Order Regarding Input Tax Credit
Deepak Nitrite Limited announced on March 25, 2026, that the Assistant Commissioner of State Tax, Unit-40, Vadodara, Gujarat, has passed an order related to the company.The order, received on March 25, 2026, concerns a demand for ineligible Input Tax Credit (ITC) for the Financial Year 2019-20 under the Gujarat Goods and Service Tax Act, 2017.
The details of the order are as follows:
| Detail | Information |
|---|---|
| Authority | Assistant Commissioner of State Tax, Unit-40 Vadodara, Gujarat |
| Order Details | Recovery of: Tax amount of ₹ 19,14,506/- (CGST+SGST); Interest amount of ₹ 22,17,784/- (CGST+SGST); Penalty of ₹ 19,14,506/- (CGST+SGST) |
| Date of Order | March 25, 2026 |
| Reason for Order | Demand for ineligible Input Tax Credit (ITC) for the Financial Year 2019-20 |
| Financial Impact | There will be no material financial impact except for the amounts detailed in the order. |
Deepak Nitrite believes the ITC was availed after complying with applicable laws and intends to pursue legal action to challenge the order.
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