Supreme Industries has said that GST authorities carried out search and inspection proceedings at three of its locations, including its registered office in Nariman Point, its corporate office in Andheri East, and its Khopoli unit in Khalapur.
According to the regulatory filing by Supreme Industries, the inquiry currently covers details from accounts, tax payments and insurance-related information. The company said its teams have been cooperating fully with the GST officials and have provided all information sought so far and will continue to share any additional documents required during the inspection.
Supreme Industries says GST search has no impact on operations or business outlook
“The inspection/search proceedings have not impacted the regular operations of the Company,” it said in the filing.
Based on its initial assessment, Supreme Industries said it does not expect the outcome of the proceedings to have any material impact on its business.
The action is taken under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.
Share price of Supreme Industries
The share price of Supreme Industries has declined 23.94% so far this year.