Godfrey Phillips India Limited — Important, 29-01-2025: General Updates

Godfrey Phillips India Limited has received an order from the Office of the Commissioner of Goods and Services Tax, Faridabad, demanding GST payment along with interest and imposing a penalty of ₹7.32 crore under the Central Goods and Services Tax Act. The order relates to an alleged incorrect classification of goods, resulting in a short payment of tax.

However, the company notes that this order is not expected to materially impact its financials or operations. It is currently evaluating options, including the possibility of filing an appeal. Investors should monitor this situation closely for any developments.