Om Power Transmission ordered to reverse ₹11.6 lakh tax credit
Om Power Transmission received an order from the Office of the Deputy Commissioner, State Tax, Ahmedabad, directing the reversal of Input Tax Credit (ITC) amounting to ₹11,60,838 for Financial Year 2015-16. The company stated that the financial implication is limited to the reversal amount and that the order does not have any material impact on its operations or other activities.
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om power transmission has received an order from the Office of the Deputy Commissioner, State Tax, Ahmedabad, directing the reversal of Input Tax Credit (ITC) amounting to ₹11,60,838. The order, dated May 27, 2026, was received by the company on May 30, 2026. The directive pertains to the alleged incorrect availment of ITC by the company for Financial Year 2015-16 under the applicable provisions of the Gujarat Value Added Tax Act, 2003.
The disclosure was submitted to the exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the financial implication of the order is limited to the reversal of the specified ITC amount. Furthermore, Om Power Transmission stated that the order does not have any material impact on the operations or other activities of the company.
Details of the Tax Order
The order specifically addresses the violation of provisions related to the availment of tax credits during the specified financial period. The authority has determined that the ITC claimed was incorrect, necessitating the reversal of funds.
| Particulars | Details |
|---|---|
| Name of the Authority | Office of the Deputy Commissioner, State Tax, Ahmedabad |
| Nature of Order | Reversal of Input Tax Credit (ITC) |
| Amount Involved | ₹11,60,838 |
| Relevant Period | Financial Year 2015-16 |
| Governing Act | Gujarat Value Added Tax Act, 2003 |
| Date of Order | May 27, 2026 |
| Date of Receipt | May 30, 2026 |
Historical Stock Returns for Om Power Transmission
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.35% | -11.72% | -14.83% | -12.92% | -12.92% | -12.92% |
Does Om Power Transmission plan to appeal the tax order, and what is the likelihood of a successful reversal?
Could this tax dispute trigger similar scrutiny for other financial years or additional tax liabilities?
How might this development affect investor confidence in the company's tax compliance practices?
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