Grasim Industries Faces GST Inspection in Tamil Nadu: Key Details

Grasim Industries news today

On 22 January 2025, the State Tax Officer (Intelligence) in Salem, Tamil Nadu, conducted an inspection at Grasim Industries Ltd’s cellulosic fashion yarn business marketing office and depot. The action was taken under Section 67 of the Tamil Nadu Goods and Services Tax (TNGST) Act, 2017, focusing on alleged discrepancies in records maintained by the company and those available on the GST portal.

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Key Takeaways

• The inspection was conducted at Grasim’s Salem depot on 22 January 2025.

• The GST department seized certain depot records citing discrepancies.

• The order was passed under Section 67 of the TNGST Act on 25 January 2025.

• Grasim Industries stated that this event has no material impact on its financials or operations.

• Grasim Industries share price closed at ₹2,410.50, down by 1.93% on BSE.

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Seizure of Depot Records and Regulatory Filing

Following the inspection, a formal order was passed on 25 January 2025, authorising the seizure of depot records for further scrutiny. Grasim Industries disclosed the development in a regulatory filing on 28 January 2025, clarifying that the inspection was routine and would not affect its ongoing operations.

Financial and Market Impact

Despite Grasim Industries' assurance of no material impact, its stock witnessed a decline following the disclosure. On the Bombay Stock Exchange (BSE), Grasim Industries share price dropped by ₹47.35 (1.93%), closing at ₹2,410.50. Investors are closely monitoring further developments regarding the case and its implications for the company’s compliance processes.

Grasim Industries GST Inspection Summary

Grasim Industries Ltd has stated that the GST inspection at its Salem depot does not materially impact its operations. While Grasim Industries share price dipped slightly following the disclosure, investors remain watchful of further regulatory actions or potential financial implications.

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