Umang Dairies Limited — Important, 31-01-2025: General Updates

The appeal filed by Umang Dairies Limited against the tax demand raised by the Joint Commissioner, Corporate Circle, Moradabad, has been rejected. The demand amounted to Rs. 4.58 crore, comprising short payment of tax, Input Tax Credit denial, interest, and penalty for the period from April 2018 to March 2019. The rejection was based on findings that the company had made a short payment of tax and availed excess Input Tax Credit not in accordance with the GST provisions. While the company plans to appeal this decision to a higher authority, it stated that there is no material impact on its financials or operations. Investors should monitor the situation closely, as any developments may influence the company’s financial health moving forward.