Timex Group India Ltd. Receives Order from Tamil Nadu Tax Authority
March 23, 2026 – Timex Group India Ltd. has received a demand order from the Office of the Assistant Commissioner (ST) Vadapalani, Chennai, related to the financial year April 1, 2019, to March 31, 2020. The order, issued March 22, 2026, stems from an alleged excess input tax credit availed in Goods and Services Tax (GST) returns.The demand order (Form DRC-07) indicates a discrepancy relating to excess input tax credit under Integrated State Duty (ISD) in Chennai for the specified financial year. The financial impact of the order, including interest and penalties, totals INR 8,845.
The company has disclosed the details of the order. The impact on the company’s financial, operational or other activities is quantifiable in monetary terms to the extent possible.
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