HP Cotton Textile Mills seeks settlement of ₹21.20 lakh entry tax demand
- HP Cotton Textile Mills applied for settlement of ₹21.20 lakhs entry tax demand
- Company paid ₹7.29 lakhs under Haryana One Time Settlement Scheme, 2026
- Demand relates to assessment proceedings for FY 2015-16 to FY 2017-18
- Settlement order from Excise and Taxation Officer, Hisar, is awaited
*this image is generated using AI for illustrative purposes only.
HP Cotton Textile Mills Limited has submitted an application to settle an aggregate entry tax demand of ₹21.20 lakhs for the financial years 2015-16 through 2017-18. The company filed this application on September 28, 2026, under the Haryana One Time Settlement Scheme for Recovery of Outstanding Dues, 2026.
The demand originated from assessment proceedings initiated by the Excise and Taxation Officer-cum-Assessing Authority, Ward-6, Hisar. The company paid ₹7.29 lakhs towards the settlement of these dues as part of the application process.
Regulatory Filing Details
The intimation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular dated January 30, 2026. The filing confirms that the settlement order is currently awaited from the relevant authority.
The specific legal framework cited is the Haryana Tax on Entry of Goods in Local Areas Act, 2008. The company stated that there is no other material impact of this matter on its financial or operational activities beyond the payment made.
Settlement Structure
| Particular | Details |
|---|---|
| Total Original Demand | ₹21.20 lakhs |
| Settlement Amount Paid | ₹7.29 lakhs |
| Period Covered | FY 2015-16, 2016-17, 2017-18 |
| Scheme Applied | Haryana OTS for Recovery of Outstanding Dues, 2026 |
| Status | Settlement Order Awaiting |
Financial Impact Analysis
The company disclosed that the payment of ₹7.29 lakhs represents the cost of settling the original demand of ₹21.20 lakhs. This indicates a significant reduction in liability compared to the initial assessment, reflecting the terms of the state's one-time settlement scheme. The company explicitly noted that aside from this payment, there are no further material impacts on its financial or operational activities.
Historical Stock Returns for HP Cotton Textile Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.49% | -4.33% | -19.92% | -16.71% | -18.17% | -6.41% |
How might the pending settlement order impact HP Cotton Textile Mills' ability to secure future credit facilities or government contracts?
Could this successful settlement under the 2026 Haryana scheme encourage other textile companies in the region to pursue similar tax amnesty programs?
What are the potential regulatory risks if the Excise and Taxation Officer rejects the settlement application after the partial payment?
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