ITD Cementation India Limited — Others, 15-11-2024: Action(s) taken or orders passed

ITD Cementation India Limited has received an order from the State Tax Officer in Chhattisgarh, requiring a GST payment of ₹7,77,772 (including a penalty of ₹44,406) due to discrepancies between GSTR3B and GSTR7 for FY 2020-21. The company plans to appeal the order and is optimistic about a favorable outcome, expecting minimal financial impact as a result. This situation may create a short-term risk but could also be viewed as an opportunity for the company to clarify its tax positions and bolster investor confidence if resolved favorably.