Indsil Hydro Power Appeals ₹26.7 Lakh GST Demand, Disclosure Delay Noted

INDUSTRIAL-GOODSSERVICES
Whalesbook Corporate News Logo
AuthorKavya Nair|Published at:
Indsil Hydro Power Appeals ₹26.7 Lakh GST Demand, Disclosure Delay Noted
Overview

Indsil Hydro Power and Manganese Ltd received a ₹12.09 lakh GST demand and ₹14.61 lakh penalty, totaling ₹26.7 lakh. The company has appealed the order, stating it has no material impact on its financials or operations. It also acknowledged a delay in disclosing the GST order, which it will rectify.

Instant Stock Alerts on WhatsApp

Used by 10,000+ active investors

1

Add Stocks

Select the stocks you want to track in real time.

2

Get Alerts on WhatsApp

Receive instant updates directly to WhatsApp.

  • ✓Quarterly Results
  • ✓Concall Announcements
  • ✓New Orders & Big Deals
  • ✓Capex Announcements
  • ✓Bulk Deals
  • ✦And much more
Add StocksGet it on Google PlayDownload on the App Store

Indsil Hydro Power and Manganese Limited disclosed that it has received an order from Central GST authorities demanding a total of ₹26,69,738. This amount comprises ₹12,09,060 in GST liability and ₹14,60,678 as a penalty. Indsil Hydro Power has filed an appeal against this demand with the Appellate Authorities.

The company stated that this tax demand and penalty have no material impact on its financial standing or day-to-day operations.

Indsil Hydro Power also acknowledged an inadvertent delay in disclosing this GST order to exchanges. It assured that steps would be taken to rectify this lapse and ensure timely communication of such matters going forward.

Indsil Hydro Power and Manganese Ltd is principally engaged in hydro-electric power generation and manganese ore mining.

Investors will monitor the outcome of the company's appeal against the GST demand. There is also an expectation that the company will strengthen its adherence to disclosure timelines. A secondary concern involves potential increased scrutiny on Indsil's compliance and disclosure practices following the admitted delay. The company maintains that its core financials and operations remain unaffected.

Get stock alerts instantly on WhatsApp

Quarterly results, bulk deals, concall updates and major announcements delivered in real time.

Add Stocks
Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.