Saraswati Saree Depot Ltd
Saraswati Saree Depot receives ₹32,09,097 penalty order from CGST Kolhapur
REGULATORY
▼ Concern Flagged
MEDIUM RISK
📅 Filed on BSE: 19 Oct 2026, 08:41 PM IST · BSE ID: 2bafcc8c-fc14-4c76-abf9-52146d810a05
View Original BSE Filing (PDF)
💡
In Simple Terms
The company has been fined over ₹32 lakh by tax authorities for an input credit issue, which it plans to challenge.
🤖 AI Summary
- Company received order imposing ₹32,09,097 penalty from CGST Kolhapur.
- Penalty pertains to alleged inadmissible Input Tax Credit on IPO expenses.
- Order passed under Section 73(9) and 74A(6) of CGST Act, 2017.
- Company contests the order and will pursue legal appeal.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Aggregate penalty imposed
₹32,09,097/-
Penalty under Section 73(9)
₹1,85,391/-
Penalty under Section 74A(5)(i)
₹30,23,706/-
Order-in-Original Number
01/GST-DRC-07/JC/AP/KOP/26-27
Show Cause Notice Date
December 12, 2025
Company Written Reply Date
January 16, 2026
🏢 How This Affects the Company
The penalty of ₹32,09,097, if not overturned, will impact the company's profitability. The company stated it has sufficient input credit to service this demand.
This order introduces regulatory and litigation risk for the company as it pursues legal recourse against the penalty.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders. Shareholders should monitor the company's legal proceedings regarding the penalty.
👤
Who Is Affected
All shareholders are indirectly affected due to potential financial implications if the penalty is upheld.
🔍
Management Signal
Management signals intent to vigorously defend its position and pursue legal avenues for resolution.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Company's appeal filing status against the penalty order.
Updates on legal proceedings regarding CGST Kolhapur's order.
Any revised financial impact assessment by the company.
MEDIUM RISK
Significant penalty imposed by tax authority, with ongoing legal contestation.
💡 Investor Takeaway
Saraswati Saree Depot Ltd received a penalty of ₹32,09,097 from CGST Kolhapur for inadmissible Input Tax Credit, but the company contests the order.
⚖️ Strengths & Concerns
⚠️ Concerns
- Imposed aggregate penalty of ₹32,09,097 for alleged inadmissible Input Tax Credit.
❓ Frequently Asked Questions
What penalty was imposed on Saraswati Saree Depot Ltd by CGST Kolhapur?
CGST Kolhapur imposed an aggregate penalty of ₹32,09,097 on Saraswati Saree Depot Ltd.
What is the reason for the penalty on Saraswati Saree Depot Ltd?
The penalty is for the alleged availment of inadmissible Input Tax Credit on IPO-related expenses.
What is the order number for the penalty against Saraswati Saree Depot Ltd?
The order number is 01/GST-DRC-07/JC/AP/KOP/26-27, passed on October 12, 2026.
Will Saraswati Saree Depot Ltd pay the penalty immediately?
No, the company contests the order and plans to appeal legally, believing it has merit.
Questions based on this BSE filing only. For information purposes.