Parmeshwar Metal Limited has received a significant order from the GST Authority in Gujarat, confirming a substantial tax demand along with penalties totaling ₹7.66 crore. The company disclosed this development to BSE Limited on April 15, 2026, in compliance with regulatory requirements under SEBI listing obligations.

GST Authority Order Details

The Deputy Commissioner of State Tax (Enforcement) Division-03, Gandhinagar issued the order in Form GST DRC-07, which addresses alleged violations under the Central Goods and Service Tax Act, 2017 and the Gujarat Goods and Service Tax Act, 2017.

Nature of Alleged Violations

The GST authority's order pertains to alleged inadmissible Input Tax Credit (ITC) that the company reportedly received from non-existent suppliers and tax defaulters. This issue forms the core of the tax demand and penalty assessment under the GST regulations.

Company's Response and Legal Strategy

Parmeshwar Metal Limited has indicated its intention to challenge the order through appropriate legal channels. The company plans to file an appeal before the Appellate Authority against the GST order, expressing confidence in its position.

Management's Assessment

The company's management has provided the following assessment of the situation:

• The demand confirmed in the order is considered to be without merit
• The company expects the demand to be set aside during appellate proceedings
• No material impact is anticipated on the company's financial, operational, or other activities

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026. This ensures transparency with stakeholders regarding material developments that could potentially impact the company's operations.

Parmeshwar Metal Limited has completed its regulatory filing by submitting the confirmation certificate under SEBI (Depositories and Participants) Regulations for the quarter ended March 31, 2026. The submission was made to BSE Limited on April 11, 2026, ensuring compliance with mandatory regulatory requirements.

Regulatory Compliance Details

The parmeshwar metal submitted its confirmation certificate pursuant to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. The certificate was duly processed and confirmed by MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, which serves as the company's registrar and share transfer agent.

Certificate Confirmation Process

MUFG Intime India Private Limited confirmed that securities received from depository participants for dematerialisation during the quarter ended March 31, 2026, were properly processed and confirmed to the depositories. The registrar verified that all security certificates received for dematerialisation were confirmed or rejected within prescribed timelines.

The confirmation process included:

• Proper verification of security certificates by depository participants
• Mutilation and cancellation of physical certificates after verification
• Substitution of depository names in the register of members as registered owners
• Compliance with prescribed timelines for all procedures

Corporate Information

The submission was signed by Shantilal Shah, Managing Director of Parmeshwar Metal Limited, and processed through the company's registered office in Gujarat. MUFG Intime India Private Limited, with CIN U67190MH1999PTC118368, operates from its registered address in Mumbai and maintains SEBI registration for providing registrar and share transfer services.

This quarterly submission demonstrates the company's adherence to regulatory compliance requirements and proper maintenance of securities records as mandated by SEBI regulations.