Butterfly Gandhimathi Appliances Limited — Important, 12-12-2024: General Updates

The company has received a demand notice under the GST Act for a total of ₹1.13 crore, covering tax, interest, and penalty for FY 2020-21, FY 2021-22, and FY 2022-23. This demand stems from an assessment related to a mismatch in input tax credit and additional invoices for services. The management, after consulting experts, plans to appeal the order, expecting a favorable outcome. This situation presents a financial risk of ₹1.13 crore, which could impact the company's operations if not resolved favorably. Investors should monitor developments closely, as the outcome of the appeal could significantly affect the company's financial standing.