Goa Carbon Limited — Important, 13-03-2025: General Updates

Goa Carbon Limited has successfully secured a waiver of interest amounting to ₹5.73 crore under Section 128A of the CGST Act related to a tax order from the Goa State Tax Officer regarding the period from July 1, 2017, to March 31, 2018. Initially, the company faced a demand for ineligible Input Tax Credit, including interest charges. To prevent penalties, it paid the tax under protest but contested the interest. Following the newly inserted provision, the company withdrew its appeal and applied for the waiver, leading to the confirmation of eligibility for the interest waiver by the relevant authorities. This development enhances the company’s financial position by alleviating a significant liability. Shareholders should monitor this positive outcome for its impact on the company’s cash flow and operational flexibility.