Belrise Industries gets GST order confirming ₹1.51 lakh demand

Legal

Blacklitt Research30 October 20262 min read

A wooden judge's gavel on a table. — Photo by Wesley Tingey on Unsplash (Unsplash License). Illustrative image.

Belrise Industries (NSE: BELRISE) has received a GST order from the Assistant Commissioner (ST), Oragadam Assessment Circle, Tamil Nadu, it said in a filing on 30 Oct 2026. The order, dated 29 Oct 2026, results in a tax demand, interest and penalty aggregating to ₹1.51 lakh.

An order under Section 73 for FY 2023-24

The Assistant Commissioner (ST), Oragadam Assessment Circle, Commercial Taxes Department, Tamil Nadu, passed the order under Section 73 of the TNGST/CGST Act, 2017. The order was passed pursuant to audit or scrutiny proceedings for FY 2023-24.

The order confirms demand through DRC-07 towards reversal of input tax credit (ITC), interest and penalty.

The alleged ITC violation

The filing describes the alleged violation as ineligible availment of input tax credit on expenses under Section 17(5) of the GST Act, and ITC availed on purchases from a supplier whose registration was cancelled. The authority has confirmed a portion of the demand, along with applicable interest and penalty.

The company's response and size of the amount

The company says the order has no material impact on its operations or business activities. It is evaluating appropriate legal remedies, including filing an appeal against the order.

Set against the company's market value of ₹18,371 crore at the 30 Oct 2026 close of ₹206.44 a share, the total of ₹1.51 lakh is a small amount.

What the order means for Belrise Industries' shareholders

The order concerns input tax credit for FY 2023-24 and sets a total of ₹1.51 lakh in tax, interest and penalty. Whether the demand has been paid, when any appeal would be filed, how an appeal would turn out, and whether reported results change are not known from the filing.

The step named next is the company's evaluation of legal remedies; no date for that step is given.

At a glance

Item	Detail
Authority	Assistant Commissioner (ST), Oragadam Assessment Circle, Commercial Taxes Department, Tamil Nadu
Order date	29 Oct 2026
Legal basis	Section 73, TNGST/CGST Act, 2017
Period	FY 2023-24
Tax demand	₹18,626
Interest	₹1.12 lakh
Penalty	₹20,000
Aggregate	₹1.51 lakh

Reference: Original filing (PDF)

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