Pursuant to the provisions of Regulation 30 read with sub-para 20, Para A of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (Listing Regulations), Apcotex Industries has informed that the Company has received an Order from the Deputy Commissioner of State Tax, Raigad Division -01, Navi Mumbai, Maharashtra, imposing a penalty of Rs. 1,76,974/- with respect to GST Investigation parameter for the period April 2020 to March 2021 under applicable provisions of the Maharashtra GST Act 2017, IGST Act 2017 and CGST Act 2017 in relation to alleged block Credit availed by the Company for the respective period. Based on the Company’s assessment, prevailing law and basis the advice of the counsel, the Company is hopeful of a favourable outcome at the next adjudicating authority level and does not reasonably expect the said Order to have any material financial impact on the Company. The details of the above Order as required under Regulation 30 of Listing Regulations are enclosed.
The above information is a part of company’s filings submitted to BSE.
