Sula Vineyards gets CST Demand of INR 6.45 Crore for non-submission of F-form and C-form

Sula Vineyards Limited sent a regulatory filing to the National Stock Exchange of India Limited and BSE Limited regarding communication under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”).

Sula Vineyards Limited added that they received an Order of Assessment of Tax under the Central Sales Tax Act, 1956, on September 25, 2025, issued by the Deputy Commissioner of State Tax, Nashik.

SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (as amended), along with Regulation 30 of the SEBI Listing Regulations, SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025, and the Industry Standards Note on Regulation 30 of the LODR Regulations, the company has provided the necessary information in Form A, which is attached as Annexure A. Additionally, the disclosures required under the SEBI Master Circular dated November 11, 2024 (as amended), are included in Annexure B.

Further Sula Vineyards Limited added that the information and details provided in ‘Form A‘ in , in compliance with Regulation 30(13) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is true, correct and complete according to Sula Vineyards Limited.

Annexure A: The Deputy Commissioner of State Tax, Nashik, sent a communication to Sula Vineyards Limited. The communication was received by the company on September 25, 2025, under the Central Sales Tax Act, 1956 (‘CST Act‘) for the financial year 2022-2023. The communication included the department’s raised demand of INR 6.45 crore owing to the non-availability of F-forms and C-forms, including interest.

The tax due to non-submission of F-form and C-form amounts to Rs. 3,57,05,630, and the interest under Section 30 is Rs. 2,88,25,391. The combined total of both is Rs. 6,45,31,021. The company doesn’t expect any financial implication in lieu of this order at this stage. The company will file a rectification or appeal against this assessment order.

Annexure B: The Deputy Commissioner of State Tax, Nashik, sent a communication to the company. The company received the communication on September 25, 2025. The communication included the demand raised by the department of INR 6.45 crore owing to the non-availability of F-Forms and C-Forms inclusive of interest. The company does not expect any financial implication in lieu of this order at this stage.