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Enviro Infra Engineers Limited has announced a board meeting concerning a Demand Order from GST Authorities, requiring payment of ₹7.84 cr as IGST, along with an equal penalty, and an additional penalty of ₹0.4 cr. This order alleges the improper availing of input tax credit on transactions with a non-operational firm and record-keeping inconsistencies.
The company anticipates that while this order will incur certain financial liabilities, it does not foresee a material impact on its overall operations. Management plans to respond within the requisite timeline. Investor sentiment may remain cautious due to potential financial liabilities, but the lack of significant operational impact suggests a neutral outlook in the short term.