Greenply Industries Limited Receives Order Regarding Input Tax Credit
Greenply Industries Limited announced it received an order from the Office of the Senior Joint Commissioner of State Tax, Directorate of Revenue Intelligence and Enforcement, Government of West Bengal, dated March 30, 2026.The order, related to the fiscal year 2019-20, concerns input tax credit availed from vendors. The total tax demand initially amounted to Rs. 75,82,119, which the company reports was already paid under protest. Additionally, interest of Rs. 90,86,079 and a penalty of Rs. 75,82,119 were confirmed by the order.
The company states that it has fulfilled all conditions prescribed under the WBGST/CGST Act, 2017, regarding input tax credit. Greenply Industries intends to file rectification and/or appeal against the order within the stipulated timelines.
According to the company, the event is not expected to have a material impact on the financial, operational, or other activities of the company.
| Particulars | Details |
|---|---|
| Name of the authority | Senior Joint Commissioner of State Tax, Directorate of Revenue Intelligence and Enforcement, Government of West Bengal |
| Nature and' details of the action taken, initiated or order passed | An Order passed under relevant provision of the WBGST/CGST Act, 2017 for the FY 2019-20, inter alia, demanding Input Tax credit availed from Vendor(s). The total tax demand amounts to Rs. 75,82,119/- which was already paid under protest, however Interest amounts to Rs. 90,86,079/-, and penalty of Rs. 75,82,119/- has been confirmed vide the captioned order. |
| Details of the violation/ contravention committed or alleged to be committed | The adjudication authority has raised demand of interest and penalty as stated above. The Company has fulfilled all the conditions prescribed under the aforesaid Acts w.r.t. availment of the ITC. The Company has a strong case based on merits and will be filing rectification and/or appeal against the said Order within the prescribed timelines. |
| Impact on financial, operation, or other activities of the listed entity, quantifiable in monetary terms to the extent possible | There is no material impact on the financial, operation, or other activities of the Company. |
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