Southern Magnesium & Chemicals Ltd Receives GST Demand Notice of INR 30,32,204/-
Southern Magnesium & Chemicals Ltd has received a demand notice related to Goods and Service Tax (GST), concerning an alleged short payment of output tax for the period spanning April 2025 to February 2026. The total demand amount amounts to INR 30,32,204/- (Rupees Thirty Lakhs Thirty Two Thousand Two Hundred and Four only).The notice was received on June 12, 2026, from the Deputy Assistant Commissioner (ST), Special Circle, Rajamahendravaram Division.
According to details provided by the company, the demand pertains to alleged short payment of output tax during the specified period. Southern Magnesium & Chemicals Ltd stated that it possesses a strong case on the merits of the matter and does not anticipate any financial impact on its operations following the assessment.
The company also noted an internal delay in addressing this intimation, citing an inadvertent and unintentional oversight by an accounts officer. The company confirmed that it has issued a strict warning to the concerned accounts officer regarding the incident.
Stock Price Movement
At 12:36, shares of Southern Magnesium & Chemicals Ltd are edging lower at ₹79.49, following a 0.28% decline for the day. The equity has traded within an intraday range, finding support near its low of ₹79.49 after briefly hitting 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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