Plastiblends India Limited — Others, 30-11-2024: Action(s) initiated or orders passed

Plastiblends India Limited has received two Demand cum Show Cause Notices from the GST Authority related to alleged violations for the financial year 2020-21. The first notice proposes a tax demand of ₹1.95 crore, while the second demands ₹0.05 crore, both plus interest and penalties concerning Input Tax Credit. Based on tax consultant advice, the company plans to respond within the stipulated timeframe. Management indicated that these notices are not expected to significantly impact the company's financials or operations, suggesting a neutral impact on investor sentiment amidst ongoing compliance efforts.