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The Assistant Commissioner of State Tax, Maharashtra, has issued a tax demand of approximately ₹84 crore relating to an alleged mismatch in input tax credit for FY 2020-21. The company believes it has a strong case and plans to file an appeal against this order. Importantly, there is no immediate impact expected on the company’s financials or operations as a result of this order. Monitoring developments on this matter could provide insights into future operational stability, but the company maintains a positive outlook regarding its defense against the tax demand.
All announcements from JB Chemicals & Pharmaceuticals Limited