DOMS Industries Limited received an order in original passed by Addl. Commissioner of Central GST & Central Excise, against the said notice, according to the Company exchange filing.
The order was issued under Section 74(1) of the CGST Act, 2017, and the corresponding provision of the Gujarat GST Act, 2017, read with Section20 of the IGST Act, 2017, with a demand of GST amounting to ₹ 5,35,95,656 and penalty of ₹ 5,35,95,656 along with the applicable interest calculated under section 50(1) of the CGST Act, 2017.
The Additional Commissioner of Central GST & Central Excise has issued the order alleging misclassification of certain goods sold by the Company under the CGST Act leading to short payment of GST.
On May 29, 2024, the company received a Show Cause Cum Demand Notice from the Directorate General of Goods & Service Tax Intelligence, Surat Zonal Unit, on account of the misclassification of certain goods sold by the Company under the Central Goods and Services Tax Act, 2017, leading to short payment of Goods and Services Tax.
A copy of the order was received by the Company on January 07, 2025.
The Disclosure before the exchange was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source #ET
