Tembo Global Pays ₹19.43 Lakh GST Demand, Contests Order Before Authority

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Tembo Global Pays ₹19.43 Lakh GST Demand, Contests Order Before Authority

Team Finance Saathi

07/Feb/2025

What's covered under the Article:

Tembo Global has paid ₹19.43 lakh GST for the period in question but is contesting the order.
The GST Department alleged invoice irregularities, which the company has denied.
No financial impact is expected, as confirmed in the company's disclosure to NSE.

Tembo Global Industries Limited, a listed entity on the National Stock Exchange (NSE) under the symbol TEMBO, has paid ₹19,43,420/- towards GST dues, as per a show cause notice from the Additional Commissioner, CGST & Central Excise, Palghar Commissionerate. The company made the disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and stated that it is contesting the order before the appropriate authority.

GST Show Cause Notice and Allegations

The GST Department issued a show cause notice to Tembo Global on February 4, 2025, alleging that the company supplied goods/services without issuing invoices or issued incorrect invoices. As a result, the department demanded ₹19.43 lakh as CGST and IGST recovery, which the company has now paid.

Tembo Global, however, denied the allegations mentioned in the notice and emphasized that it is challenging the order before the relevant authority.

No Financial Impact on Tembo Global

Despite the GST payment, the company has clarified that there is no financial impact on its operations or financials. The disclosure was made in compliance with SEBI regulations and was addressed to the National Stock Exchange of India Limited (NSE).

Next Steps for Tembo Global

Tembo Global is actively pursuing legal recourse and will contest the GST order through appropriate channels. The company's response indicates confidence in its compliance records, as it has refuted the allegations in the show cause notice.

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Tembo Global Pays ₹19.43 Lakh GST Demand, Contests Order Before Authority

What's covered under the Article:

GST Show Cause Notice and Allegations

No Financial Impact on Tembo Global

Next Steps for Tembo Global

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