Omnipotent Industries Ltd. Faces Tax Credit Dispute with CGST Department

Omnipotent Industries Ltd. Faces Tax Credit Dispute with CGST Department​

Omnipotent Industries Limited announced on March 18, 2026, that it is involved in a dispute with the Office of the Commissioner of CGST & Central Excise in Thane. The dispute concerns the availment and utilization of irregular input tax credit by the company.

The company faces potential financial implications related to the dispute, which include:

Item	Amount (INR)
Demand and recovery of Input tax credit	10,22,57,746
Demand and Recovery of Interest	As per applicable provisions
Penalty on the Company	10,22,57,746
Penalty on Mr. Prince Pratap Shah	10,22,57,746
Penalty on Mr. Prince Pratap Shah	25,000

The order regarding the dispute was received on March 17, 2026, and the company has assessed the matter as material.

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