Mangal Electrical Industries Ltd received a GST demand order for ₹55.73 lakhs from the Rajasthan state tax authority. The demand relates to alleged irregular Input Tax Credit and GST on director corporate guarantees. The company intends to appeal the order before the Appellate Tribunal and maintains there is no immediate material financial impact.
Mangal Electrical Industries Ltd received an order from the Rajasthan State Tax Appellate Authority confirming a GST demand of ₹55.73 lakhs. The demand relates to alleged excess Input Tax Credit availment for FY 2017-18. The company intends to appeal the order before the Appellate Tribunal.