DHANUKA Receives GST Demand Order of ₹121.32 Crore
Dhanuka Agritech received a GST demand order of ₹121.32 crore from Central Goods & Service Tax, Ahmedabad. The company is evaluating options including an appeal and does not anticipate any impact on financials.
The company has stated that it does not envisage any relevant impact on financials, operations or other activities of the Company.
The announcement discusses a negative event for the company (receiving a demand order).
* Dhanuka Agritech Limited has received a GST demand order from the Central Goods & Service Tax, Ahmedabad. * The demand order amounts to ₹121.32 crore, which includes a tax demand of ₹60.66 crore and a penalty of ₹60.66 crore. * The authority alleges that the company wrongly classified certain products as fertilizers/bio-stimulants under HSN 3101 with 5% GST, while they should be classified as Plant Growth Regulators under HSN 3808 with 18% GST. * The company believes the demand is not maintainable and is evaluating options, including filing an appeal. * Dhanuka Agritech does not anticipate any relevant impact on its financials, operations, or other activities.
What to do with a filing like this
Dhanuka Agritech Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. 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 Dhanuka Agritech Limited. Read the original for the full detail.