Indo Count Industries Limited Concludes GST Inspection, Rectifies Discrepancies
Indo Count Industries Limited announced the conclusion of a GST inspection conducted by the Maharashtra State GST Department at the company’s premises on Tuesday, March 17, 2026. The inspection, which began earlier in March, was initiated under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.According to a filing, Indo Count Industries has proactively addressed certain discrepancies by agreeing to pay Integrated Goods and Services Tax (IGST) for the period from April 1, 2020, to the present. This payment is subject to restitution and restoration.
The company stated that the inspection is not expected to have a material impact on its financials, business operations, or other activities, with the exception of a compensatory interest payment of Rs. 12.81 crores related to the IGST payment.
| Particulars | Details/ Information |
|---|---|
| Name of the authority | Commissioner of State Tax, Maharashtra State |
| Nature and details of the action(s) taken | Inspection/search u/s 67 of the Maharashtra Goods and Services Tax Act, 2017 at Company's premises |
| Date of receipt of direction or order | Inspection / search concluded on Tuesday, March 17, 2026 |
| Details of the violation(s) | The Company has suo motu rectified certain discrepancies by agreeing to pay IGST for the period from April 1, 2020, till date. |
| Impact on financials | Compensatory interest of Rs. 12.81 crores on such IGST payment. |
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