Regaal Resources wins GST appeal; Rs 2.17cr demand set aside
Regaal Resources Limited disclosed that the GST Appellate Authority has set aside the entire demand of Rs 2,17,33,500 raised for the financial year 2021-22. The final order, dated May 21, 2026, from the Office of the Additional Commissioner of State Tax (Appeals), Purnea, Bihar, quashed the tax of Rs 1,22,21,214, interest of Rs 82,49,319, and penalty of Rs 12,62,967. The company confirmed there is no financial impact as no liability survives.
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Regaal Resources Limited has informed the exchanges that the GST Appellate Authority has set aside the entire demand of Rs 2,17,33,500 raised against the company. The final order, dated May 21, 2026, was issued by the Office of the Additional Commissioner of State Tax (Appeals), Purnea, Bihar.
The dispute pertained to the financial year 2021-22, specifically the period from April 2021 to March 2022. The original demand included a tax component of Rs 1,22,21,214, interest of Rs 82,49,319, and a penalty of Rs 12,62,967. The appellate authority has quashed the entire demand, stating that no liability survives against the company in this matter.
Breakdown of Demand Set Aside
| Component | Amount (Rs) |
|---|---|
| Tax | 1,22,21,214 |
| Interest | 82,49,319 |
| Penalty | 12,62,967 |
| Total | 2,17,33,500 |
The company confirmed that there is no financial impact resulting from this order. As the entire demand has been cancelled, no amount is payable by the company. The disclosure was made to the stock exchanges as a matter of abundant caution and transparency under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
This development concludes the proceedings related to the demand order received earlier by the company. With the final order quashing the demand, the company's financial operations remain unaffected by the earlier claims.
Historical Stock Returns for Regaal Resources
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.22% | +15.40% | +7.55% | +10.48% | -31.03% | -31.03% |
Could the GST appellate ruling set a precedent that benefits other companies in the resources sector facing similar tax demands for FY 2021-22?
How might the resolution of this GST dispute influence investor confidence and Regaal Resources' stock performance in the near term?
Are there any other pending tax or regulatory disputes that Regaal Resources may be facing that could pose future financial risks?
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