India Glycols Limited — Others, 23-01-2025: Action(s) initiated or orders passed

India Glycols Limited has announced a board meeting to discuss the recent order from the Deputy Commissioner of CGST & CX Division-VI, which disallows Input Tax Credit (ITC) amounting to ₹1.16 crore (cr) and demands recovery along with a penalty of the same amount. This order pertains to FY 2017-18 and arises from allegations of incorrect ITC claims. The company intends to appeal this decision, confident in reversing the demand. Investor sentiment may remain cautious amid ongoing tax disputes, but potential for a positive outlook could arise depending on the appeal's outcome.