Vijay Solvex Limited Receives Demand Order for ITC and Plans Appeal
Vijay Solvex Limited announced today, March 27, 2026, that it received a demand order from the Office of the Superintendent, Central Goods and Service Tax Range-II, Alwar, Rajasthan. The order pertains to the alleged wrongful availment and utilization of Input Tax Credit (ITC).The demand includes an amount of Rs. 8,49,978, encompassing Rs. 4,24,989 in ITC and a penalty of Rs. 4,24,989, related to the financial years 2019-20, 2020-21, and 2021-22.
According to a company statement, Vijay Solvex Limited intends to file an appeal against the demand order before the appropriate authority, guided by legal counsel and anticipating a favorable outcome. The company stated that the order is not expected to have a material impact on its financials, operations, or other activities.
Below is a summary of the details provided in the order:
| Particulars | Details |
|---|---|
| Authority | The Superintendent, Central Goods and Service Tax Range-II, Alwar, Rajasthan |
| Nature of Order | Demand Order under Section 74(1) of the Central Goods and Service Tax Act, 2017 |
| Date of Order Receipt | March 27, 2026 |
| Alleged Violation | Wrongful availment and utilization of ITC during Financial Year 2019-20, 2020-21 and 2021-22 |
| Total Demand | Rs. 8,49,978 (Rs. 4,24,989 ITC + Rs. 4,24,989 penalty) |
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