VMS Industries Ltd received a GST order confirming a total demand and penalty of ₹19.88 Crore for FY 2024-25. The demand represents approximately 6.89% of the company's turnover/net worth. The company intends to contest the order before the appropriate appellate authority, stating there is no material impact on operations.
VMS Industries Ltd has received a GST order confirming a total demand and penalty of ₹22.94 Crore. The order relates to alleged circular trading and fraudulent ITC availment for FY 2024-25. The demand represents 7.95% of the company's annual turnover, and the management plans to contest the order before appellate authorities.