Greenply Industries Limited — Others, 26-02-2025: Action(s) taken or orders passed

Greenply has announced a board meeting to discuss an order from the Sales Tax Officer demanding a tax of ₹7.13 lakh, interest of ₹5.32 lakh, and a penalty of ₹85,629 for the FY 2020-21 related to ITC availed from non-compliant service providers. The company asserts that it has fulfilled all tax obligations and plans to file an appeal against this order, believing it has a strong case. While there may be some administrative or operational processes impacted, the company claims no material effect on its overall financial health. This could signal a cautious optimism for investors, as Greenply aims to resolve the matter efficiently.