Southern Magnesium & Chemicals Ltd Receives GST Demand Notice for Output Tax Short Payment
Southern Magnesium & Chemicals Ltd has received a demand notice regarding output tax short payment from the Deputy Assistant Commissioner (ST), Special Circle, Rajamahendravaram Division. The notice concerns the period spanning April 2025 to February 2026 and raises a GST demand amounting to INR 30,32,204/-.The company received the demand notification on June 12, 2026.
According to details provided by the company regarding the compliance matter, the notice is associated with an alleged short payment of output tax as per Section 74A(9)(i) of the CGST/ AP GST Act 2017.
The key operational and financial details of this event are summarized below:
| Detail | Information |
|---|---|
| Authority Issuing Demand | Deputy Assistant Commissioner (ST), Special Circle, Rajamahendravaram Division |
| Date of Receipt | June 12, 2026 |
| Period Covered | April 2025 to February 2026 |
| Nature of Allegation | Short payment of output tax |
| Demand Amount | INR 30,32,204/- (Rupees Thirty Lakhs Thirty Two Thousand Two Hundred and Four only) |
The company stated that they maintain a strong case on the merits regarding this matter and do not anticipate any financial impact resulting from the demand.
Stock Price Movement
Southern Magnesium & Chemicals Ltd shares settled at ₹79.95 on Thursday, dipping by 0.05%. The stock traded through the day within a range established between a low of ₹77.00 and a high of ₹79.99.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.
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