Ramco Industries gets six GST orders dropping ₹37 lakh penalty demands
- Legal
- Cement And Cement Products
Reviewed byKeshav SehgalBlacklitt Research
Ramco Industries (NSE: RAMCOIND) received six orders from a Tamil Nadu GST authority dropping GST, interest and penalty linked to a corporate guarantee given to its group company, M/s. Harini Textiles Limited, it said in a filing on 07 Nov 2026. The total penalty across the six orders is ₹37.49 lakh.
What the orders cover
The orders were issued by the Commercial Tax Officer, Office of Joint Commissioner (ST), Chengalpattu Intelligence Division, and were received on 6 Nov 2026 at times between 12.43 p.m. and 12.53 p.m. They concern GST demands on the corporate guarantee the company provided to Harini Textiles Limited for financial years 2018-19, 2019-20, 2021-22, 2022-23 and 2023-24.
The proceedings began with a notice dated 04 Nov 2025 on the GST impact of the guarantee, under notification no.52/2023-Central Tax dated 26.10.2023. The authority converted that notice into orders in Form DRC-07 demanding GST with interest and penalty under Section 74 of the CGST Act, 2017. The company now states that the orders are favourable, dropping GST, interest and penalty in each case.
Scale against the company
The GST amount in each of the cases was ₹8.33 lakh, and the interest demanded ranged from ₹1.15 lakh to ₹9.81 lakh across the five years. The total penalty across the six orders is ₹37.49 lakh.
Against Ramco's latest reported quarter, total income of ₹441.51 crore and net profit of ₹50.66 crore on a consolidated basis for Q2 FY27, the amounts are small. Its market value at the 06 Nov 2026 close was ₹2,730 crore.
What the GST orders mean for Ramco Industries' shareholders
The orders remove demands that had been raised against the company on a guarantee given to a group company. The filing does not say what amount, if any, the company had previously recorded or paid against these demands, or what effect the orders have on its results. It also does not say whether the authority may appeal.
At a glance
| Item | Detail |
|---|---|
| Authority | Commercial Tax Officer, Office of Joint Commissioner (ST), Chengalpattu Intelligence Division |
| Orders received | 6 Nov 2026, between 12.43 p.m. and 12.53 p.m. |
| Total penalty dropped | ₹37.49 lakh across six orders |
| Financial years covered | 2018-19, 2019-20, 2021-22, 2022-23, 2023-24 |
| Related party | M/s. Harini Textiles Limited |
| Original notice | 04 Nov 2025 |
Filed with NSE on . Reference: Original filing (PDF)
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