Raj Packaging Industries Provides Comprehensive Update on GST Litigation Across Multiple Fiscal Years

Raj Packaging Industries Limited has released a detailed update on its ongoing GST litigation matters, spanning fiscal years 2020-21 through 2023-24. The company has taken various legal actions to address demands raised by the Assistant Commissioner (ST), Aghapura Circle, Commercial Tax Departments, Hyderabad.

FY 2020-21 Litigation

For the fiscal year 2020-21, Raj Packaging Industries filed a writ petition before the Honorable High Court, challenging the order of the Assistant Commissioner. In a hearing held on May 2, the Court granted a stay on recovery proceedings. The case was initially posted to July 15, and subsequently adjourned to September 1, with the stay extended until the next hearing date.

Appeals for FY 2021-22, 2022-23, and 2023-24

The company has taken similar legal actions for the subsequent fiscal years:

• FY 2021-22: An appeal was filed on June 30 before the Appellate Authority, GST, Telangana.
• FY 2022-23: An appeal was submitted on July 19 to the same Appellate Authority.
• FY 2023-24: Another appeal was filed on July 19, also with the Appellate Authority, GST, Telangana.

All these appeals challenge and dispute the demands raised by the Assistant Commissioner (ST), Aghapura Circle.

Transparency and Future Updates

Raj Packaging Industries has emphasized its commitment to transparency by providing this comprehensive update to its stakeholders. The company confirmed receiving details and confirmations regarding these legal proceedings on July 30.

In its communication to the BSE Limited, the company stated that it will continue to provide further updates as they become available. This approach aligns with the company's adherence to Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring timely and transparent disclosure of material events.

Investors and stakeholders are advised to consider this information in conjunction with previous disclosures made by the company regarding these GST litigation matters. As the legal proceedings are ongoing, the final outcomes and potential financial implications remain to be seen.

Raj Packaging Industries Limited continues to navigate these regulatory challenges while maintaining its business operations. The company's proactive approach in addressing these issues and keeping shareholders informed reflects its commitment to corporate governance and regulatory compliance.