Mallcom (India) Limited — Others, 31-01-2025: Action(s) taken or orders passed

MALLCOM (INDIA) LTD. has received an order from the Additional Commissioner of CGST & Central Excise regarding GST audit findings for FY 2017-18 and 2018-19. The order demands ₹2.45 crore, along with an equal amount as interest and penalty, due to alleged wrongful availing of Input Tax Credit for inter-state stock transfers. While the original demand was fully recovered in April 2021, the company is currently reviewing the order and does not expect a material impact on its financials or operations. This situation may induce caution among investors, yet management's intent to contest the order could present an opportunity for clarity and resolution.