Gujarat Ambuja Exports Limited — Others, 30-11-2024: Action(s) taken or orders passed

Gujarat Ambuja Exports Limited has reported a GST demand order from the Additional Commissioner, CGST & Central Excise, for a tax liability of ₹81.68 lakh (8.1682 crores) along with a penalty of the same amount, citing issues related to raw material purchases from a non-existent vendor. The company plans to appeal this order, indicating it does not consider the demand maintainable. The management assesses that this demand will have no material impact on its financials or operations. This situation may create uncertainty for investors, but mitigated risks from a potential appeal could signal a positive outlook.