Apcotex Industries gets ₹16 lakh GST penalty order for FY21-FY24 ITC

Apcotex Industries (NSE: APCOTEXIND) has received an order imposing a penalty of ₹16.37 lakh with respect to GST audit (ISD) for April 2020 to March 2024, it said in a filing on 06 Nov 2026. The order concerns alleged ineligible input tax credit, excess ITC availed, or ITC distribution in wrong proportion.

What the order says

The order was issued by the Assistant Commissioner, Division VI, CGST and Central Excise, Raigad Commissionerate, under the Maharashtra GST Act 2017, the IGST Act 2017 and the CGST Act 2017. The company received it on 6 Nov 2026 at 1.24 p.m.

The penalty of ₹16.37 lakh covers the period from April 2020 to March 2024. The company says the order records that it had availed ineligible ITC, excess ITC, or distributed ITC in wrong proportion for the respective period.

The company's response so far

Apcotex Industries says it is evaluating the order and will decide its further course of action on the advice of counsel. The company says it does not expect the order to have any material financial impact on it.

The penalty is small against the company's latest reported scale: its standalone total income for Q1 FY27 was ₹528.44 crore. The company's other filings in the past month are a share acquisition and its audited results for the quarter and half year ended 30 Sep 2026, and none of them is linked to this order in the filing.

What the GST order means for Apcotex Industries' shareholders

The order adds a ₹16.37 lakh penalty demand and a dispute over input tax credit for April 2020 to March 2024. The company says it does not expect a material financial impact.

The filing does not say whether the penalty has been paid or appealed, what grounds the company will raise, or how much tax and interest is involved beyond the penalty. The company's next step is to decide its further course of action with counsel; no date for that decision is given.

At a glance