Granules India Limited — Others, 28-02-2025: Action(s) taken or orders passed

Granules India Ltd. has received communication from the GST authorities confirming the closure of an investigation related to an erroneous refund claim for Input Tax Credit (ITC). The company paid a total of ₹3.27 crore, which includes ₹1.78 crore in tax, ₹1.23 crore in interest, and ₹0.27 crore in penalty. This payment resolves past discrepancies without significantly impacting the company's financial position, as it can still avail the previously paid ITC. This development may foster a more positive outlook among investors, mitigating concerns over regulatory issues while emphasizing the company’s proactive compliance approach.