Panache Digilife Receives Tax Order Citing Wrongful Use of Input Tax Credit; Initiates Appeal Process
Panache Digilife Limited has received an order from a tax authority regarding allegations of misuse of Input Tax Credit. The order, issued under the Central Goods and Services Tax Act, 2017, along with the Maharashtra Goods and Services Tax Act, 2017, confirms a tax demand against the company.According to the details, the competent authority confirmed a tax demand amounting to Rs. 2,22,40,982/-, which includes interest and penalty. The order was received by the company on July 13, 2026, concerning alleged wrongful availment and utilization of ineligible Input Tax Credit.
The key details of the tax action are summarized below:
| Area | Detail |
|---|---|
| Authority | Joint Commissioner of State Tax, Kalyan |
| Violation Alleged | Wrongful availment and utilization of ineligible Input Tax Credit |
| Tax Demand Amount | Rs. 2,22,40,982/- (including interest and penalty) |
| Order Receipt Date | July 13, 2026 |
Management Assesses Legal Challenge and Operations Impact
Regarding the confirmed demand, Panache Digilife Limited stated that it believes the order is not tenable in law and possesses strong legal grounds to challenge the findings. The company is taking appropriate steps to file an appeal before the Hon'ble Goods and Services Tax Appellate Tribunal within the prescribed statutory timelines.Based on a preliminary legal assessment, management indicated that while the demand has been confirmed, the company does not expect any material adverse impact from the order on its financial position or operations.
PANACHE Stock Price Movement
Panache Digilife Limited shares closed slightly higher today, edging up 0.69% to settle at ₹447.95. The stock traded within a defined intraday range of ₹442.1 and ₹459, with 7,414 shares being traded 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.