Fine Organic Industries Limited has announced the conclusion of search proceedings initiated by the Maharashtra Goods and Services Tax Department. The proceedings, which commenced on October 30, 2026, concluded on November 5, 2026. The company has paid a determined tax and interest liability of ₹5,00,47,594 for earlier periods, with no material impact reported on business operations.
GST Search Proceedings Concluded
Fine Organic Industries Limited has officially informed stakeholders about the conclusion of search proceedings conducted by the Maharashtra Goods and Services Tax Department. These proceedings, initiated under Section 67 of the Maharashtra Goods and Services Tax Act, 2017, took place at the company’s registered office and other locations.
Key Dates and Financial Resolution
The search operations commenced on October 30, 2026, and were successfully concluded on November 5, 2026. Throughout the process, Fine Organic Industries extended full cooperation, providing the Department with requested information, documents, and clarifications. The Department determined a tax and interest liability amounting to ₹5,00,47,594 pertaining to earlier periods. The company has duly remitted this entire amount.
Impact on Business Operations
Fine Organic Industries has emphasized that the financial impact on the company is limited to the aforementioned amount paid. Crucially, the business operations of the company continued as usual during the search proceedings, and there has been no material impact on its day-to-day activities or overall business performance.
Regulatory Disclosure
This intimation is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Details regarding the authority, nature of action, dates, and financial impact are provided as per the regulatory requirements. The company has also made this disclosure available on its official website for public access.
Source: BSE
