Indsil Hydro Power & Manganese has disclosed the receipt of a demand order from the Superintendent, Central GST & Central Excise, Range-I, Division-II, Raipur, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order was received on 31st December 2025 and the disclosure was made on May 12, 2026. The company acknowledged that the delay in disclosure was due to inadvertence and has committed to ensuring no such instances occur going forward.
Details of the GST Demand Order
The order was passed under Section 74 of the Central Goods and Services Tax (CGST) Act, 2017. It involves the disallowance of Input Tax Credit (ITC), confirmation of GST demand under the Reverse Charge Mechanism (RCM), and the levy of applicable interest and penalty. The key financial details of the demand are presented below:
| Parameter: | Details |
| Issuing Authority: | Superintendent, Central GST & Central Excise, Range-I, Division-II, Raipur |
| Order Passed Under: | Section 74 of the CGST Act, 2017 |
| Date of Receipt of Order: | 31st December 2025 |
| GST Demand (RCM): | ₹12,09,060/- |
| Penalty: | ₹14,60,678/- |
| Interest: | Applicable under Section 50 of the CGST Act, 2017 |
Nature of Alleged Contravention
The order pertains to the alleged excess availment of Input Tax Credit and non-payment or short payment of Goods and Services Tax under the Reverse Charge Mechanism, along with applicable interest and penalty. The demand was raised by the Central GST authorities following their assessment of the company’s GST compliance.
Company’s Response and Financial Impact
Indsil Hydro Power & Manganese has filed an appeal against the order before the Appellate Authorities. The company has stated that there is no material impact on its financials, operations, or other activities as a result of this order. The disclosure was made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
