Goods news for SRF: Rs. 170.46 Crores GST Demand and Penalty Set aside:

SRF Ltd has got relief from Rs. 85.23 crores demand and penalty of an equivalent amount

SRF Limited gets relief from Rs. 85.23 crores demand and penalty

CA Pratibha Goyal

Jun 17, 2025

Last update on Jun 17, 2025

Goods news for SRF: Rs. 170.46 Crores GST Demand and Penalty Set aside There is a good news for investors of SRF Limited. The entire demand of Rs. 85.23 crores and a penalty of an equivalent amount were set aside by the appellate authority. Joint Commissioner, CGST & Central Excise, Vadodara – II in its order dated 15.1.2025 had imposed a demand and penalty for an equivalent amount of Rs. 85.23 Crores (approx.) due to ineligibility to claim refund of IGST on certain exports made between October, 2017 to March, 2022. In this matter, an appeal was filed by the Company on 03.04.2025 before the appellate authority and consequently an Order-in-Appeal (OIA) has been passed by the competent appellate authority on 12.6.2025 setting aside the entire demand and penalty. This was disclosed by the company pursuant to the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ("LODR").

About Author

CA Pratibha Goyal

Co Founder

CA Pratibha Goyal is Chartered Accountant qualified in 2016, is a Member of The Institute of Chartered Accountants of India having wide experience in the field of Auditing, Taxation, ROC, GST and Secretarial matters etc. She has written over a thousand articles & has made several videos on topics related to Auditing & Taxation. As a Speaker she has delivered various sessions on various branches of NIRC of ICAI.