Anisha Kumari | Jun 24, 2025 |
V-Guard Hit with Rs. 20.7 Cr GST Shocker
V-Guard Industries Limited has informed the stock exchanges BSE and NSE about receiving a Goods and Services Tax (GST) demand order from the office of the Assistant Commissioner, Central GST, Gangtok Division, Sikkim. The communication was received on June 23, 2025 and this disclosure was made as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company submitted the details by Form A which is a mandatory disclosure format when a listed company receives any communication from a regulatory, statutory, enforcement or judicial authority.
The demand was made on the basis of the Scheme of Budgetary Support under the GST Regime, as per a notification issued on October 5, 2017 by the Department of Industrial Policy and Promotion. The note claims that the company’s units received excess budgetary support under the said scheme. The demand covers the period from the FY 2017-18 to FY 2024-25.
The total financial implication of the demand on the company amounts to Rs. 20,70,28,577, which includes tax amount of Rs. 14,90,43,765 and interest of Rs. 5,79,84,812. The authority claims that the company’s units received excess budgetary support along with applicable interest for the entire period stated above.
The amount demanded includes the excess budgetary support, and the interest amounts to Rs. 20,70,28,577. V-Guard Industries stated that it has strong grounds to defend itself against this demand. The company is currently checking the available options and will consider appropriate actions to challenge or respond to the demand.
According to the company, all the information provided is true, correct and complete to the best of its knowledge and is in full compliance with Regulation 30(13) of SEBI Listing Regulations.
The company requested the stock exchanges to take this information on record as part of their regulatory compliance. The update was signed by Mr. Vikas Kumar Tak, Company Secretary and Compliance Officer, V-Guard Industries Limited.
Investors and shareholders will keep their eyes on V-Guard Industries considers its next steps in responding to this significant GST demand.
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
