V-Guard Industries Limited Receives Final Audit Report on GST Matters for FY 2020-21 to 2023-24
V-Guard Industries Limited reported receiving a final audit report related to Goods and Services Tax (GST) matters. The communication was received on April 6, 2026, from the Assistant Commissioner, CGST-Audit Circle, Kashipur (Audit Commissionerate, Dehradun).The audit report was issued in the form of GST ADT-02 and pertains to the availment of excess Input Tax Credit (ITC) for the Financial Years (FY) 2020-21 to 2023-24.
The company reported the following key financial implications from the communication:
| Detail | Value |
|---|---|
| Short payment of GST communicated | INR 17,75,91,197 |
| Interest & penalty | Not quantified |
The audit identified issues concerning the inadmissible, wrong, or excess availment of ITC and noted discrepancies during the GSTR-9 reconciliation process. Furthermore, the report indicated that a penalty is leviable under section 74, with the penalty amount specified as 'to be quantified'.
V-Guard Industries Limited stated that it is currently evaluating the final audit report and plans to take appropriate steps to challenge the observations in the order, emphasizing that the document received is not a demand order.
The details of the audit report and the company's response are summarized below:
| Particulars | Details |
|---|---|
| Name of the listed company | V-Guard Industries Limited |
| Type of communication received | Form GST ADT-02 along with final audit report, being audit report issued under section 65(6) |
| Date of receipt of communication | April 6, 2026 |
| Authority from whom communication received | Assistant Commissioner, CGST-Audit Circle, Kashipur (Audit Commissionerate, Dehradun) |
| Period applicable | FY 2020-21 to 2023-24 |
| Issues identified | Related to inadmissible/wrong/excess availment of ITC and short payment in GSTR-9 reconciliation. |
| Action taken by company | Evaluating the final audit report and shall take appropriate steps to rebut this report. |
VGUARD Stock Price Movement
As of 12:35 PM, shares of V-Guard Industries Limited are slipping by 1.34% in live trading, currently at ₹319.7. The stock has seen 66,237 shares traded as it struggles throughout the morning session.Source:
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