NGL Fine-Chem faces ₹6.19 crore GST show-cause demand
As filed · NGL Fine-Chem Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2
What happened
FactNGL Fine-Chem received a GST show-cause notice for FY 2022-23 proposing a total demand of ₹6,18,61,905, including tax, interest and penalty. The company plans to submit a detailed response and attend a personal hearing on October 22, 2026; it says it has adequate grounds to support its position and does not currently expect a material impact.
Why it matters
CapitSignal interpretationRegulatory action carries direct monetary penalties and can restrict how the business operates until it is resolved.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Guidance
WithdrawnYes, that is our aim, I mean, to get to a 150 plus sort of a situation.
But it will take a little while for it to stabilize at those levels.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Quantum of penalty and whether it is appealed
- Any restriction placed on operations or licences
- Timeline given by the regulator
- But it will take a little while for it to stabilize at those levels. (management committed by Q4 FY26)
- But whatever growth plans we have got in terms of getting to the sales, we are fairly confident of reaching th (management committed by FY27)
Evidence
- NGL Fine-Chem Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR Regulations ) Show Cause Notice received from the GST Department'.(opens the original filing in a new tab)
- Earlier statement · Q4 FY26
- Latest statement · Q4 FY26
How CapitSignal classified this
- Reasoning:
- The notice creates a potential ₹6.19 crore tax exposure, though this is a proposed demand rather than a final liability. The outcome will depend on the company's reply and the GST proceedings.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%