Prince Pipes Receives ₹31.12 Lakh GST Demand Order for FY19-20
Prince Pipes And Fittings Limited received a GST demand order for ₹31.12 lakh for FY19-20. The order includes tax, interest, and penalty totaling ₹31,12,290. The company is contesting the demand and expects no material impact on its operations.
The total demand amount of ₹31.12 lakh is relatively small compared to the company's overall financial standing, and the company expects no material impact on its operations or financials.
The company received a tax demand order, which is a negative event. However, the company believes the demand is not maintainable and does not foresee any impact, which mitigates the negativity.
Prince Pipes And Fittings Limited announced on April 1, 2026, that it has received a demand order from the Office of the Joint Commissioner, State Goods & Service taxes Department, Government of Rajasthan, Jaipur. The order, dated March 30, 2026, was issued under Section 74 of the CGST/RGST Act, 2017, concerning the financial year 2019-20.
The demand order is for an aggregate amount of ₹31,12,290, which comprises a tax demand of ₹10,10,484, interest of ₹10,91,322, and a penalty of ₹10,10,484. This demand notice was issued based on allegations of claiming certain ineligible input tax credit under Section 17(5) of the CGST/RGST Act.
The company stated that it has received the order on March 31, 2026. Prince Pipes And Fittings Limited is evaluating the matter and plans to submit its reply within the prescribed time limit. The company believes the demand is not maintainable and does not foresee any significant impact on its financials, operations, or other activities.
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