Rashi Peripherals Receives GST Demand Order of ₹1.96 Crore
Rashi Peripherals received a GST demand order of ₹1.96 crore for FY21-22. The order includes tax and penalty for alleged wrong ITC availment. The company disputes the demand and plans to appeal, classifying the amount as a contingent liability.
The demand of ₹1.96 crore, while classified as a contingent liability, represents a material amount that could affect the company's financial standing if the appeal is unsuccessful. However, it is not an immediate operational disruption.
The company has received a significant demand order for tax and penalty, which negatively impacts its financial outlook and potentially its operations.
Rashi Peripherals Limited has received an order dated December 31, 2025, from the Assistant Commissioner of GST & Central Excise, Chennai North Commissionerate. The order confirms a demand for tax and penalty amounting to a total of ₹1,95,65,197 (approximately ₹1.96 crore).
This demand pertains to the Financial Year 2021-22 and includes CGST of ₹4,16,018, IGST of ₹1,87,33,013, and SGST of ₹4,16,166. The alleged contravention involves wrong availment of Input Tax Credit (ITC) on Import of Goods and excess claim of ITC.
The company, however, believes the demand is not justified. Rashi Peripherals is consulting with its tax advisors to file an appeal against this order. The total demand, including penalty, will be classified as a contingent liability in the company's financial statements until the final resolution of the matter.
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Rashi Peripherals 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 medium impact: worth reading, rarely worth acting on by itself.
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