Parmeshwar Metal Ltd Receives GST Order Confirming Tax Demand of Rs. 1.59 Crore
Parmeshwar Metal Ltd, an ISO 9001:2015 Certified Company, announced that it received an order from the GST Authority, Gujarat, on April 15, 2026. The directive involves a confirmation of tax demand, along with applicable interest and penalties.The order was issued by the Deputy Commissioner of State Tax (Enforcement) Division- 03, Gandhinagar. The core issue detailed in the order pertains to alleged inadmissible Input Tax Credit (ITC) received by the company from suppliers who were either non-existent or tax defaulters.
The tax demand confirmed under the Central Goods and Service Tax Act, 2017, and the Gujarat Goods and Service Tax Act, 2017, totals Rs. 1.59 Crore, coupled with applicable interest and penalties of Rs. 6.07 Crore.
Key Details of the Tax Order
| Particulars | Details |
|---|---|
| Receiving Authority | Deputy Commissioner of State Tax (Enforcement) Division- 03, Gandhinagar. |
| Date of Order | April 15, 2026 |
| Nature of Order | Order in Form GST DRC-07, confirming tax demand. |
| Tax Demand Details | Tax: Rs. 1.59 Crore; Interest and Penalties: Rs. 6.07 Crore |
| Core Violation | Alleged inadmissible ITC received from non-existent suppliers or tax defaulters. |
In response to the directive, Parmeshwar Metal Ltd stated that it is taking appropriate steps to file an appeal before the Appellate Authority. The company expressed the view that the demand confirmed in the order is without merit and anticipates that these amounts are expected to be set aside during the appellate proceedings.
Furthermore, the company reported that it does not foresee any material impact on its financial, operational, or other activities.
Stock Price Movement
On Wednesday, shares of Parmeshwar Metal Ltd settled at ₹150.00, posting a solid gain of 7.91% for the day. Throughout trading, the stock demonstrated volatility, moving across a range between ₹145.25 and its high of ₹150.00.Source:
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