Refex Industries receives ₹54.33 Lakh tax demand order; plans appeal
Refex Industries Limited received a tax demand order for FY 2018-19 from Rajasthan State Tax authorities. The total demand, including tax, interest, and penalty, amounts to ₹54,32,943. The company believes the demand is not maintainable and plans to appeal, stating no material impact on financials or operations.
The company explicitly stated that the demand order has no material impact on its financials, operations, or other activities. This suggests the financial implications are negligible for the company.
The company received a tax demand order, which is a negative event. However, they believe it's not maintainable and are appealing, and importantly, they stated it has no material impact on their financials or operations. This offsets the initial negative news.
Refex Industries Limited has received an order from the Deputy Commissioner, State Tax, Jodhpur, Rajasthan, for the Financial Year 2018-19. The order pertains to a total demand of ₹54,32,943, which includes tax, interest, and penalty. Specifically, the tax amount is ₹16,88,866, interest is ₹20,55,211, and penalty is ₹16,88,866.
The demand order, dated December 18, 2025, was issued under Section 74 of the CGST Act, 2017, alleging the availment of inadmissible input tax credit due to the supplier's registration being cancelled suo moto.
The company, however, believes that the demand is not maintainable and is in the process of preferring an appeal against the said orders. Refex Industries Limited stated that this order has no material impact on the financials, operations, or other activities of the company.
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Refex Industries 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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