Parmeshwar Metal Ltd has received a GST order confirming tax demand of Rs 34.3 million and penalties of Rs 74.4 million. The company plans to appeal, asserting the order lacks merit, and expects no material impact on its financial or operational activities.
Parmeshwar Metal Limited has informed BSE that the Gujarat GST Authority has issued an order under Form GST DRC-07, raising significant tax and penalty demands. The company has clarified its stance and intends to challenge the order through appellate proceedings.
Tax Order Details
The Deputy Commissioner of State Tax (Enforcement), Gandhinagar, passed the order on March 26, 2026. It alleges inadmissible input tax credit (ITC) claimed from non-existent suppliers and tax defaulters.
Company Response
Parmeshwar Metal Ltd stated it will file an appeal before the Appellate Authority, maintaining that the demand is without merit. The company emphasized that it does not foresee any material impact on its financial or operational activities.
Key Highlights
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Tax demand confirmed: Rs 3.43 crore
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Penalties and interest: Rs 7.44 crore
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Order issued under GST DRC-07
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Alleged inadmissible ITC from non-existent suppliers
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Company to appeal, expects no material impact
Sources: Company filing to BSE