Tega Industries Limited — Important, 04-03-2025: General Updates

Tega McNally Minerals Limited, a wholly owned subsidiary of Tega Industries Limited, has received a demand order from the Assistant Commissioner of State Tax for outstanding tax, interest, and penalty totaling INR 10.17 crore. This demand, stemming from alleged excess claims of Input Tax Credit and short payment of tax for the financial year 2020-21, outlines a tax liability of INR 5.25 crore, interest of INR 4.40 crore, and a penalty of INR 0.52 crore. TMML intends to appeal the order before the appropriate authority. The company reports no anticipated material impact on its financial or operational activities due to this demand.