Transworld Shipping Lines Ltd disclosed tax demands totaling ₹102.6 million across GST and income tax notices for prior years. The company deems them untenable and plans appeals, with no material impact anticipated on operations or finances.
Transworld Shipping Lines Ltd, a Mumbai-based logistics player, received multiple tax demands aggregating ₹102.6 million (₹10.26 crore) from GST and income tax authorities. These pertain to assessment years including FY20-23, covering input tax credit disallowances, reassessments, and penalty interests, disclosed via BSE filing on December 15, 2025.
Demand Breakdown:
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Principal GST demand of ₹45.2 million plus interest/penalties; IT reassessment adds ₹57.4 million.
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Company contests validity, citing adequate provisions and strong appeal grounds under GST Act sections 73/74.
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No admissions of liability; legal recourse via tribunals expected to yield favorable outcomes per past precedents.
Despite the notices, Transworld maintains robust cash flows from container shipping amid Red Sea disruptions boosting freight rates. Shares dipped marginally, reflecting sector resilience.
Sources: BSE Announcements, Moneycontrol, Economic Times.