Greenlam Industries Limited — Others, 28-07-2025: Action(s) initiated or orders passed

Greenlam has received a Show Cause Notice from tax authorities in Himachal Pradesh. The notice alleges the company took incorrect IGST refunds from the Customs Department for the financial years 2018-19, 2019-20, and 2020-21, which is deemed impermissible under GST laws. The demand, including tax recovery and penalty, totals approximately 7.69 Crore. The company is currently reviewing the notice and exploring appropriate legal options. Management is hopeful for a favorable resolution and anticipates no material impact on its financial position or business operations, suggesting limited risk to shareholders from this development.