V.I.P. Industries Limited has disclosed that the Assistant Commissioner of State Tax, Maharashtra, initiated inspection and search proceedings at its registered office and Nashik manufacturing unit on February 24, 2026. The action was taken under Section 67 of the Maharashtra Goods & Service Tax Act, 2017. The company confirms it is cooperating fully with the authorities. Currently, V.I.P. Industries reports no material impact on its financials or operations due to these proceedings.
Disclosure of Regulatory Action
V.I.P. Industries Limited formally notified stock exchanges on February 24, 2026, regarding official action taken by tax authorities. Specifically, the Assistant Commissioner of State Tax, Maharashtra, commenced inspection and search proceedings against the Company.
Details of the Proceedings
The proceedings were initiated at two locations: the Company’s registered office and its manufacturing unit situated in Nashik, Maharashtra. The legal basis cited for this action is Section 67 of the Maharashtra Goods & Service Tax Act, 2017. The Company affirms that the inspection and search process is currently ongoing, and it is extending full co-operation and assistance to the officials involved.
Impact Assessment
In its disclosure, V.I.P. Industries stated that, at present, there is no material impact observed on the company’s financials, business operations, or any other activities resulting from these proceedings. The management indicated that should any material update requiring intimation under regulatory provisions occur, further disclosures will be made promptly.
Source: BSE
