National Fertilizers Limited receives GST demand notice of Rs.94.84 Crores

National Fertilizers Limited informed BSE Limited as a part of SEBI Listing Regulations that they have received GST demand notice for Rs.94.84 Crores from Guntur, GST Office for recovery of refund claimed and penalty on the same.

The demand notice dated 28.05.2025 covers the period FY 2021-22 and 2022-23. The demand is on account of undue refund of accumulated Input Tax Credit (ITC) under inverted tax structure. Since the accumulation of ITC was not on account of rate of tax on inputs being higher than the rate of tax on output supplies.

The company submits that there is no material impact on financial operational activities of the Company on account of this Order. The Company is reviewing the Order and will exercise right to file appeal before Commissioner Appeals.