Indo Rama Synthetics Faces Multiple Tax Orders Amid Financial Challenges

Indo Rama Synthetics (India) Limited has recently received several tax orders, further complicating its financial landscape. The company has been directed to pay ₹33.4 million in one of the orders. Additionally, it received a notice from the Joint Commissioner of GST, Thane, requiring payment of ₹7.59 million within 90 days for alleged violations of the Goods and Service Tax Act, 2017. Another order from the Dy. Commissioner of GST, Nagpur, demands ₹85.82 million for similar GST violations. These developments come after the company was earlier ordered to pay a penalty of ₹102.3 million. These financial obligations could impact Indo Rama Synthetics' operational efficiency and cash flow management.

 

Source: Marketscreener, Indorama India, Reuters.