The shares of Greenply Industries Limited were trading at ₹383.70 down by ₹0.55 or 0.14 per cent on the NSE today at 2.10 pm.
Greenply Industries Limited has received a tax demand of approximately ₹75.5 lakh from the Sales Tax Officer in Delhi. The order, dated August 29, 2024, pertains to the financial year 2019-20 and includes a tax demand of ₹38.97 lakh, interest of ₹32.62 lakh, and a penalty of ₹3.90 lakh.
The demand stems from alleged excess input tax credit claims and short payment of tax. Greenply maintains it has discharged applicable taxes on outward supplies and fulfilled all conditions for input tax credit availment.
The company plans to file a rectification and/or appeal against the order within the prescribed timelines, asserting a strong case based on merits. Greenply stated that the order has no material impact on its financial or operational activities.