Vakrangee Limited — Important, 18-02-2025: Updates

Vakrangee Limited has received an order from the Maharashtra State GST authorities demanding a total payment of ₹5,22,694, which includes a tax amount of ₹1,24,131, interest of ₹3,08,563, and a penalty of ₹90,000. The order pertains to disallowing input tax credit under Section 73 of the CGST Act, 2017. However, the company reports that this demand will not materially impact its financial or operational activities. Vakrangee believes the order is not maintainable and is in the process of filing an appeal against it. Investors should monitor this situation closely as it evolves.