Mukka Proteins receives ₹7.82 crore GST demand notice for alleged ineligible IPO-related ITC
While the demand is substantial at ₹7.82 crore, the company asserts that the demand is not maintainable and does not anticipate any relevant impact on its financials or operations, indicating a potential legal challenge rather than an immediate financial hit.
The company has received GST demand notices totaling ₹7.82 crore, including tax, interest, and penalty, which represents a significant financial claim against the company.
Mukka Proteins Limited received two Goods & Services Tax (GST) notices from The Joint Director, Directorate General of Goods & Services Tax Intelligence, Belagavi Zonal Unit, on 25 August 2025. * The notices allege ineligible availment of Input Tax Credit (ITC) on services availed in connection with the company's Initial Public Offering (IPO). * The alleged ineligible ITC pertains to: * FY 2021-22 to 2023-24, with a demand of ₹4,36,78,720 (approximately ₹4.37 crore). * FY 2024-25, with a demand of ₹3,44,89,344 (approximately ₹3.45 crore). * The total tax, interest, and penalty aggregated to ₹7,81,68,064 (approximately ₹7.82 crore). * The authority has indicated that such expenses relate to the issue of shares, which is considered a non-GST supply, and has advised payment or submission of a representation by 27 August 2025. * Mukka Proteins Limited is in the process of examining the matter and believes the demand is not maintainable, evaluating all options including filing an appeal against the demand. * The company does not envisage any relevant impact on its financials, operations, or other activities.
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Mukka Proteins Limited filed this with the NSE as a statutory disclosure, categorised under 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 Mukka Proteins Limited. Read the original for the full detail.