India’s largest luggage company, VIP Industries Ltd, on Tuesday (February 24), said that the Assistant Commissioner of State Tax, Maharashtra, initiated inspection and search proceedings at the company’s registered office in Mumbai and its manufacturing unit in Nashik.
“…we hereby notify that the Assistant Commissioner of State Tax, Maharashtra, on February 24, 2026, initiated inspection/search proceedings at the company’s registered office and manufacturing unit situated in Nashik in the State of Maharashtra. The inspection/search proceeding is ongoing, and the company is extending full co-operation and assistance in this regard,” according to a stock exchange filing.
The inspection was conducted under Section 67 of the Maharashtra Goods & Service Tax Act, 2017. VIP Industries stated that the proceedings are ongoing and the company is providing full cooperation and assistance to the authorities.
No communication has been received regarding any violations or contraventions at this stage. The company also confirmed that there is currently no material impact on its financials, business operations, or other activities due to the inspection.
“At present, there is no material impact on the financials, business operations or any other activities of the company due to the aforesaid Inspection / Search proceedings. In the event there is any material update that requires intimation under the SEBI Listing Regulations, the company will make the necessary disclosures in accordance with regulatory provisions,” it added.
