Dynamic Cables Limited Receives Favorable Order on GST Demand for Financial Year 2018-19
Dynamic Cables Limited has received a favorable order from the Office of the Commissioner (Appeals), CGST, Jaipur, concerning a demand related to non-payment of Goods and Services Tax (GST) under the Reverse Charge Mechanism (RCM). The ruling dropped the demand of Rs. 3,28,030 for the financial year 2018-19.The company had previously filed an appeal against an order issued by the Superintendent, Central Goods and Services Tax, Range-II, Division-A, Jaipur. This appellate decision, arrived at under Section 107(11) of the CGST Act, 2017, cleared the demand in favor of Dynamic Cables Limited.
The original dispute related to the non-payment of GST under the RCM for the financial year 2018-19. The order confirms that the appeal filed by the company has been accepted by the appellate authority.
Key details regarding the GST matter are summarized below:
| Particulars | Details |
|---|---|
| Company | Dynamic Cables Limited |
| Authority | Office of the Commissioner (Appeals), CGST, Jaipur |
| Original Demand Amount | Rs. 3,28,030 |
| Financial Year | 2018-19 |
| Nature of Issue | Non-payment of GST under Reverse Charge Mechanism (RCM) |
| Outcome | Favorable order; demand dropped |
The resolution delivered by the GST Department is in favor of Dynamic Cables Limited. The company stated that it does not anticipate any adverse financial or operational impact due to this matter, as the original demand has been removed following the appellate review.
DYCL Stock Price Movement
Shares of Dynamic Cables Limited settled lower today, shedding 1.47% to close at ₹450.20. The equity traded within a wide intraday range, hitting a low of ₹447.10 and seeing 614,949 shares change hands during the session.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.