Alok Industries has informed that the Company has, on June 05, 2024 at 4:14 pm, received an order dated May 28, 2024 (‘Order’) from the Assistant Commissioner of Central GST & Central Excise, Division -VIII, Daman Commissionerate, levying on the Company a penalty of Rs 8,56,256/- under Section 73(9) of the Central Goods and Services Tax Act, 2017 read with Section 20 of the Integrated Goods and Services Tax Act, 2017 and Section 6 of the Union Territory Goods and Services Tax Act, 2017. The Order has been passed alleging erroneous claim for excess refund of input tax credit by the Company for the month of September and November 2019. The Company intends to file an appeal against the Order. The financial impact of the Order is to the extent of the penalty levied. There is no impact on operations or other activities of the Company due to the Order.
The above information is a part of company’s filings submitted to BSE.
