Styrenix Performance Materials Limited has received a GST order from tax authorities demanding ₹23.69 lakh for alleged discrepancies in Financial Year 2018-19. The company disclosed this development to stock exchanges on December 30, 2025, pursuant to SEBI listing regulations.

GST Order Details

The Central Goods & Service Tax, Division-IV (Chakan), Pune-I Commissionerate has passed an order under section 74 of GST Act targeting the company's FY 2018-19 transactions. The order addresses discrepancies between E-way Bill and GSTR1 filings.

Nature of Alleged Violation

The GST authorities have identified discrepancies between the company's E-way Bill submissions and GSTR1 returns for the specified financial year. This mismatch has resulted in the demand notice being issued to Styrenix Performance Materials.

Company's Response and Impact Assessment

Styrenix Performance Materials has stated that the GST order will not have any material impact on its financial, operational, or other business activities. The company has acknowledged that the order is appealable under GST regulations.

The company indicated it will make an assessment to determine whether to exercise its right to appeal against the GST order. This suggests Styrenix Performance Materials is evaluating the merits of the case before deciding on the appropriate legal response to challenge the demand.

Styrenix Performance Materials Limited has received an order from the Commissioner of Income-tax (Appeals), NFAC (CIT(A)) confirming a significant tax demand for Assessment Year 2016-17. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tax Demand Details

The appellate authority has confirmed the original demand raised by the Assessing Authority, maintaining the financial liability imposed on the company. The order pertains to proceedings under section 250 of the Income Tax Act, 1961.

Company's Response and Impact Assessment

Styrenix Performance Materials has clarified that the order does not have any material impact on the company's financial position, operations, or other activities. The company emphasized that this appellate order is challengeable under the existing legal framework.

The management is currently in the process of evaluating the merits of the matter and plans to file an appeal before the Income Tax Appellate Tribunal. The company intends to pursue this legal remedy within the prescribed timelines as per income tax regulations.

Regulatory Compliance

The disclosure was made pursuant to the company's obligations under SEBI listing regulations, ensuring transparency with stakeholders regarding regulatory actions. Styrenix Performance Materials, formerly known as INEOS Styrolution India Ltd., maintains its registered office in Vadodara, Gujarat, and operates in the petrochemicals sector.

The company's proactive disclosure demonstrates its commitment to regulatory compliance and keeping investors informed about developments that may have legal or financial implications, even when the immediate operational impact is assessed as minimal.