Greenply faces ₹1.08 crore GST tax demand and matching penalty
As filed · Greenply Industries Limited has informed the Exchange about Action(s) taken or orders passed by the Assistant Commissioner of Central Tax CGST & CX, Bishnupur Division, Kolkata South Commissionerate,
What happened
FactA CGST authority order for FY 2020-21 to FY 2023-24 disallowed input tax credit claimed by Greenply Industries. The order confirms a tax demand of ₹1,07,81,972, an equal penalty of ₹1,07,81,972, and applicable interest; the company said it will seek rectification and/or appeal.
Why it matters
CapitSignal interpretationA tax demand is a contingent claim on cash: it either becomes a payment, or an appeal that ties up management attention and often a deposit.
Scale
- 0.1% of FY26 revenue
₹1.08 Cr stated in the filing against ₹2,022.41 Cr revenue (FY26, standalone)
Source: financial_facts · exchange_table
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Working Capital
WithdrawnNumber of days of accounts payables ((Accounts payable *365) / Cost of goods/services procured): FY 2026: 99, FY 2025: 83
*Methodology Changed for FY 2025-26
Change
FactImplication
CapitSignal interpretationWorking Capital
Delayedwe'll be able to generate by the year-end at least INR60 crores to INR70 crores or INR75 crores of free cash flow again from the working capital side.
Number of days of accounts payables ((Accounts payable *365) / Cost of goods/services procured): FY 2026: 99, FY 2025: 83
Change
FactImplication
CapitSignal interpretationWorking Capital
Revisedwe'll have a reduction of inventory on the plywood business almost by around INR80 crores to INR100 crores.
there would be a corresponding payable of maybe around INR50 crores, INR60-odd crores against the same.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Whether the company is appealing
- Amount deposited pending appeal
- Whether it is provided for in the accounts
- As we close this year on a strong and positive note, in line with our growth guidance, we are carrying that mo (management committed by FY27)
- Our joint venture, Greenply Samet doubled its revenue from the corresponding quarter last year and we are conf (management committed by FY27)
Evidence
- Greenply Industries Limited has informed the Exchange about Action(s) taken or orders passed by the Assistant Commissioner of Central Tax CGST & CX, Bishnupur Division, Kolkata South Commissionerate, 180 Rajdanga Main Road, Shanti Pally, Kolkata-700107.(opens the original filing in a new tab)
- Earlier statement · FY26
- Latest statement · FY26
- Earlier statement · FY25
- Latest statement · FY26
- Earlier statement · FY25
- Latest statement · FY25
How CapitSignal classified this
- Reasoning:
- The order creates a potential tax, penalty and interest exposure, although the company states that it sees no material impact on its financials or operations and intends to challenge it.
- Matched on:
- body text (weaker evidence than a subject match)
- Confidence in the event type:
- 50%