Camlin Fine Sciences receives tax demand order of ₹96.66 Lakhs
Camlin Fine Sciences received a tax demand order for ₹96.66 Lakhs, including interest and penalty, for non-payment of RCM tax on foreign currency expenses to subsidiaries between FY19-20 and FY22-23. The company received the order on March 30, 2026, and plans to appeal, stating no material impact.
The company explicitly stated that there is no material impact on its financial, operational, or other activities, and it is in the process of filing an appeal.
The company has received a tax demand order which includes a penalty, indicating a negative development.
Camlin Fine Sciences Limited has received an order from the Office of the Asst. / Dy. Commissioner of (CGST & C. Ex.), Division -IV, Palghar Commissionerate. The order pertains to a demand for short/non-payment of tax amounting to ₹96,65,820/- (IGST ₹96,65,820/-) under the provisions of Section 74(9) of the CGST Act, 2017, along with applicable interest and a penalty of ₹96,65,820/- (IGST ₹96,65,820/-) under Section 122(2)(b) of the CGST Act, 2017.
The alleged violation relates to tax liability arising from expenses incurred in foreign currency and reimbursed to foreign subsidiaries, for which tax under the Reverse Charge Mechanism (RCM) was not paid during the financial years 2019-20 to 2022-23.
The company received this order on March 30, 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 low impact, the band that almost never moves a portfolio on its own.
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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.