Camlin Fine Sciences Receives GST Order Demanding ₹23.54 Crore
Camlin Fine Sciences received a GST order demanding ₹23.54 crore for ineligible ITC and imposing a penalty of the same amount. The company received the order on March 16, 2026, and plans to appeal. No material impact is expected on operations.
While the company states there is no material impact, the demand and penalty of ₹23.54 crore is a substantial amount that could affect finances if the appeal is unsuccessful.
The company has received a significant demand order from the GST authorities, including penalties and interest, which is a negative development.
Camlin Fine Sciences Limited has received an Order in Original from the Additional Commissioner, Office of the Commissioner of CGST & Central Excise, Palghar.
The order demands ₹23,54,15,880 (IGST ₹7,63,83,397, CGST ₹7,95,16,241, SGST ₹7,95,16,241) for ineligible Input Tax Credit (ITC) related to trade payables outstanding for over 180 days during FY 2019-20 to FY 2022-23. This is under Section 74 of the CGST Act, 2017, and relevant provisions of IGST and MGST Acts.
Additionally, the order includes a demand for applicable interest under Section 50 of the CGST Act and imposes a penalty of ₹23,54,15,880 under Section 74(1) of the CGST Act read with Section 122(2)(b) and relevant provisions of IGST and MGST Acts.
The company received this order on March 16, 2026. Camlin Fine Sciences has stated that there is no material impact on its financial, operational, or other activities due to this intimation. The company has examined the order and is in the process of filing an appeal against it.
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Camlin Fine Sciences Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Camlin Fine Sciences Limited. Read the original for the full detail.