Vakrangee Limited disclosed the receipt of an official Order dated March 30, 2026, from the CGST & Central Excise office in Mumbai. The order raises an aggregate demand totaling Rs. 25,17,600/-, primarily concerning the Disallowance of Input Tax Credit. The company has indicated that it believes the demand is not maintainable and is currently in the process of filing an appeal against the order.
Regulatory Disclosure Under SEBI Guidelines
Vakrangee Limited has formally informed the stock exchanges regarding a notice received from the tax authorities concerning a financial demand. The announcement, dated March 31, 2026, references an Order issued by the Office of the Assistant Commissioner of CGST & Central Excise, Mumbai.
Details of the Tax Demand
The official Order, dated March 30, 2026, was issued under Section 122(1)(ii) of the CGST Act, 2017, read with corresponding provisions in the MGST and IGST Acts. The demand aggregates to Rs. 25,17,000/-, broken down as follows:
- CGST Demand: Rs. 12,58,800/-
- SGST Demand: Rs. 12,58,800/-
Alleged Contravention and Company Response
The core issue leading to the order relates to the Disallowance of Input Tax Credit. Vakrangee Limited has taken a firm stance on the matter, stating that the company believes the said demand is not maintainable. Consequently, the management has confirmed that it is proceeding with the necessary steps to file an Appeal against the directive issued by the authority.
Impact Assessment
Crucially, the disclosure confirms that there is No material impact on the financial, operational, or other activities of Vakrangee Limited resulting from this specific tax order.
Source: BSE
