Vedant Fashions Limited — Important, 07-02-2025: Updates

Vedant Fashions Limited has received an Order-in-Original from the Assistant Commissioner of CGST and Central Excise regarding the recovery of Input Tax Credit (ITC) attributed to exempted, nil-rated, or non-GST supplies. The order specifies a cumulative recovery amount of ₹ 1,01,20,387, which includes ₹ 73,48,041 for IGST, ₹ 13,86,173 each for CGST and SGST, as well as an equivalent penalty. The order pertains to the financial years from FY 2017-18 to FY 2019-20. Despite this order, Vedant Fashions Limited assesses that there are no additional financial or operational impacts, as it will review and take appropriate action concerning the order within the designated timeline. Investors should watch closely as the company's response could influence its financial stability and public perception.