VIP Industries Limited has announced the conclusion of search proceedings initiated by the Goods & Service Tax Department, Maharashtra, following an intimation on February 24, 2026. The inspection concluded on March 2, 2026. While no material adverse findings were reported, the Company recorded a GST liability, including interest, amounting to Rs. 5.48 crores, which has since been duly paid.
Conclusion of Tax Authority Action
VIP Industries Limited has officially informed the exchanges regarding the completion of the inspection and search proceedings conducted by the Assistant Commissioner of State Tax, Maharashtra. These proceedings were undertaken under Section 67 of the Maharashtra Goods & Service Tax Act, 2017.
The inspection/search proceedings formally concluded on March 2, 2026, at 11:45 P.M. The company received the certified true copy of the deposition on March 6, 2026.
Findings and Financial Impact
The review by the authority resulted in no material adverse finding, default, or suppression of information attributable to the Company.
However, the investigation identified a GST liability, which includes interest, quantified at Rs. 5.48 crores. The company confirms that this liability has been duly paid, ensuring there is no material impact on the Company’s ongoing financials, operations, or other activities beyond this settlement.
Source: BSE
