Heubach Colorants India Limited — Important, 27-11-2024: General Updates

Heubach Colorants India Limited has received a Show Cause Notice from the Tamil Nadu Commercial Taxes Department related to the Goods and Services Tax (GST) for the financial year 2020-21. The notice alleges violations including ineligible Input Tax Credit (ITC) claims, with total claims of GST amounting to ₹2.68 crore and a penalty of ₹3.32 crore, leading to a total liability of ₹3.60 crore. Despite this, the company states there is no material impact on its financial performance or operations. Heubach is currently evaluating the notice to determine appropriate actions moving forward, indicating that investors should monitor the situation as further developments may arise.