Integrated Filing-Governance



General information about company

Scrip Code 500163
NSE Symbol GODFRYPHLP
MSEI Symbol NOTLISTED
ISIN INE260B01028
Name of the entity GODFREY PHILLIPS INDIA LIMITED
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? No
Reason For Part C Of Annexure I Disclosure Of Acquisition Of Shares OrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity Not applicable.
Whether Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? No
Reason For Part D Of Annexure I Disclosure Of Imposition Of Fine Or Penalty Is Not Applicable To The Entity Not Applicable
Whether Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? Yes
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity? No
Reason For Part F Of Annexure I Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity Not applicable.
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 500 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID G00125
Reason For No SCORE ID
Type of Submission Original
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO Yes Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mrs. Bina Modi 00048606 Executive Director Chairperson related to Promoter CEO-MD 10-Sep-1944 No Active NA 07-Apr-2014 14-Nov-2024 1 0 4 0
2 Mr. Sharad Aggarwal 07438861 Executive Director Not Applicable 11-Dec-1971 No Active NA 01-Oct-2017 01-Oct-2022 1 0 2 0
3 Ms. Charu Modi 00029625 Executive Director Not Applicable 28-Oct-1962 No Active NA 06-Jul-2024 1 0 0 0
4 Mrs. Nirmala Bagri 01081867 Non-Executive - Independent Director Not Applicable 13-Oct-1947 No Active Yes 01-Sep-2023 01-Apr-2019 01-Apr-2024 84 2 2 3 1
5 Mr. Sumant Bharadwaj 08970744 Non-Executive - Independent Director Not Applicable 11-Aug-1960 No Active NA 13-Feb-2021 13-Feb-2026 61.16 1 1 0 0
6 Mr. Subramanian Lakshminarayanan 02808698 Non-Executive - Independent Director Not Applicable 10-Jul-1946 No Active Yes 26-Aug-2022 28-May-2022 28-May-2022 46.04 2 2 3 1
7 Mr. Ajay Vohra 00012136 Non-Executive - Independent Director Not Applicable 28-Jan-1961 No Active NA 01-Jul-2023 01-Jul-2023 33 1 1 0 0
8 Mr. Avtar Singh Monga 00418477 Non-Executive - Independent Director Not Applicable 05-Mar-1960 No Active NA 12-Nov-2024 12-Nov-2024 16.19 3 3 3 1
9 Mr. Paul Norman Janelle 03489805 Non-Executive - Non Independent Director Not Applicable 26-Jul-1965 No Active NA 16-May-2025 1 0 0 0 Textual Information(1)
10 Mr. Marco Mariotti 11396596 Non-Executive - Non Independent Director Not Applicable 31-Jan-1965 No Active NA 01-Feb-2026 1 0 0 0 Textual Information(2)



Text Block
Textual Information(1) Mr. Paul Norman Janelle is a foreign resident and is not holding a PAN.
Textual Information(2) Mr. Marco Mariotti is a foreign resident and is not holding a PAN.



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00418477 Avtar Singh Monga Non-Executive - Independent Director Chairperson 13-Feb-2025
2 00048606 Bina Modi Executive Director Member 26-Aug-2022
3 01081867 Nirmala Bagri Non-Executive - Independent Director Member 12-Nov-2022
4 02808698 Subramanian Lakshminarayanan Non-Executive - Independent Director Member 03-Nov-2025



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 02808698 Subramanian Lakshminarayanan Non-Executive - Independent Director Chairperson 06-Jul-2024
2 08970744 Sumant Bharadwaj Non-Executive - Independent Director Member 26-Aug-2022
3 00418477 Avtar Singh Monga Non-Executive - Independent Director Member 13-Feb-2025
4 01081867 Nirmala Bagri Non-Executive - Independent Director Member 07-Feb-2020



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 01081867 Nirmala Bagri Non-Executive - Independent Director Chairperson 20-Sep-2024
2 00048606 Bina Modi Executive Director Member 29-May-2018
3 07438861 Sharad Aggarwal Executive Director Member 20-Jun-2025



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 02808698 Subramanian Lakshminarayanan ID Chairperson 20-Jun-2025
2 07438861 Sharad Aggarwal ED Member 30-May-2019
3 99999999 Kusumakar Pandey Chief Risk Officer Member 27-Jan-2023 31-Jan-2026 Textual Information(1)
4 99999999 Siddharth Chawla Chief Risk Officer Member 01-Feb-2026 Textual Information(2)



Text Block
Textual Information(1) Mr. Kusumakar Pandey, Chief Risk Officer ceased to be a Member of the Risk Management Committee with effect from 31st January 2026.
Textual Information(2) Mr. Siddharth Chawla was appointed as Chief Risk Officer and member of the Risk Management Committee with effect from 1st February 2026.



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 03-Nov-2025 Yes 9 8 4
2 30-Jan-2026 87 Yes 9 8 5



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 03-Nov-2025 Yes 3 3 2 0
2 Audit Committee 30-Jan-2026 87 Yes 4 4 3 0
3 Nomination and remuneration committee 03-Nov-2025 Yes 4 3 3 0
4 Risk Management Committee 10-Dec-2025 Yes 2 2 1 1



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Pumit Kumar Chellaramani
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Annexure II to be submitted by listed entity at the end of the financial year (for the whole of financial year)
I. Disclosure on website in terms of LODR Regulation
Sr Item Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here. Web address
1.1 Details of business Yes https://www.godfreyphillips.co.in/
1.2 Memorandum of Association and Articles of Association Yes https://www.godfreyphillips.co.in/public/storage/images/MOA-AOA.pdf
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.godfreyphillips.co.in/company/our-leaders
2 Terms and conditions of appointment of independent directors Yes https://www.godfreyphillips.co.in/sustainabililty/policies
3 Composition of various committees of board of directors Yes https://www.godfreyphillips.co.in/sustainabililty/board-of-directors-and-committees
4 Code of conduct of board of directors and senior management personnel Yes https://www.godfreyphillips.co.in/sustainabililty/code-of-business-conduct
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.godfreyphillips.co.in/sustainabililty/policies
6 Criteria of making payments to non-executive directors Yes https://www.godfreyphillips.co.in/sustainabililty/policies
7 Policy on dealing with related party transactions Yes https://www.godfreyphillips.co.in/sustainabililty/policies
8 Policy for determining material subsidiaries Yes https://www.godfreyphillips.co.in/sustainabililty/policies
9 Details of familiarization programmes imparted to independent directors Yes https://www.godfreyphillips.co.in/sustainabililty/policies
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.godfreyphillips.co.in/sustainabililty/shareholders-services
11 Email address for grievance redressal and other relevant details Yes https://www.godfreyphillips.co.in/sustainabililty/shareholders-services
12 Financial results Yes https://www.godfreyphillips.co.in/sustainabililty/financial-results
13 Shareholding pattern Yes https://www.godfreyphillips.co.in/sustainabililty/shareholding-patterns
14 Details of agreements entered into with the media companies and/or their associates NA
15.1 Schedule of analyst or institutional investor meet and presentation prepared by listed entity for analyst or institutional investor meet NA
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls NA
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.godfreyphillips.co.in/sustainabililty/newspaper-publications
18 Credit rating or revision in credit rating obtained Yes https://www.godfreyphillips.co.in/sustainabililty/credit-rating
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.godfreyphillips.co.in/sustainabililty/annual-reports
20 Secretarial compliance report Yes https://www.godfreyphillips.co.in/sustainabililty/annual-secretarial-compliance-report
21 Materiality policy as per regulation 30 (4) Yes https://www.godfreyphillips.co.in/sustainabililty/policies
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://www.godfreyphillips.co.in/sustainabililty/policies
23 Disclosures under regulation 30(8) Yes https://www.godfreyphillips.co.in/investor-relation
24 Statements of deviation(s) or variations(s) as specified in regulation 32 NA
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.godfreyphillips.co.in/sustainabililty/policies
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.godfreyphillips.co.in/sustainabililty/annual-return
26.2 Employee benefit scheme documents framed in terms of SEBI (SBEB) regulations 2021
27 Confirmation that the above disclosures are in a separate section as specified in regulation 46(2) Yes https://www.godfreyphillips.co.in/investor-relation
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.godfreyphillips.co.in/investor-relation
29 Disclosure of notes on website in terms of Listing Regulations explanatory


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) Yes
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) NA
35 Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
36 Alternate Director to Independent Director 25(1) NA
37 Maximum Tenure 25(2) Yes
38 Appointment, Re-appointment or removal of an Independent Director through special resolution or the alternate mechanism 25(2A) Yes
39 Meeting of independent directors 25(3) & (4) Yes
40 Familiarization of independent directors 25(7) Yes
41 Declaration from Independent Director 25(8) & (9) Yes
42 Directors and Officers insurance 25(10) Yes
43 Confirmation with respect to appointment of Independent Directors who resigned from the listed entity 25(11) NA
44 Memberships in Committees 26(1) Yes
45 Affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel 26(3) Yes
46 Policy with respect to Obligations of directors and senior management 26(2) & 26(5) Yes
47 Approval of the Board and shareholders for compensation or profit sharing in connection with dealings in the securities of the listed entity 26(6) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) NA
Any other information to be provided - Add Notes



Annexure II
III. Affirmations
Sr Particulars Compliance status (Yes/No/NA)
1 The Listed Entity has approved Material Subsidiary Policy and the Corporate Governance requirements with respect to subsidiary of Listed Entity have been complied Yes
Any other information to be provided



Annexure II
1 Name of signatory Pumit Kumar Chellaramani
2 Designation Company Secretary and Compliance Officer



Additional Half yearly Disclosure
Any Other Information for Disclosure of Loans / Guarantees / Comfort Letters / Securities Etc.
I. Disclosure of Loans/ guarantees/comfort letters /securities etc.refer note below
(A)Any loan or any other form of debt advanced by the listed entity directly or indirectly to
Entity Aggregate amount advanced during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(B) Any guarantee / comfort letter (by whatever name called) provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed By
Entity Type (guarantee, comfort letter etc.) Aggregate amount of issuance during six months Balance outstanding at the end of six months(taking into account any invocation)
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(C) Any security provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed by
Entity Type of security (cash, shares etc.) Aggregate value of security provided during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(D) Additional Information
II. Affirmations
Affirmations Compliance Status Company Remarks
All loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with any loan(s) (or other form of debt) given directly or indirectly by the listed entity to promoter(s), promoter group, director(s) (including their relatives), key managerial personnel (including their relatives) or any entity controlled by them are in the economic interest of the company. $intratedCg.get("CG_YN_$!integratedFillingMasterDto.cgMasterVO.anx4aAffirmComplStatus")
Name
Designation
Place
Date



Signatory Details
Name of signatory Pumit Kumar Chellaramani
Designation of person Company Secretary and Compliance Officer
Place New Delhi
Date 28-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 3
No. of investor complaints received during the Quarter 13
No. of investor complaints disposed off during the Quarter 14
No. of investor complaints those remaining unresolved at the end of the Quarter 2


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 Principal Commissioner, Central Goods & Service Tax (CGST) & Central Excise, Mumbai East 11-Sep-2020 This issue pertains to classification of “Tipper” Brand Cigarette for the purposes of levy of excise duty. The Company had classified this Cigarette under the heading “Other than Filter Cigarette”. The Central Excise Department (the Department) alleged that the Cigarette manufactured were “Filter Cigarette” and acc ordingly demanded the differential excise duty by issuing show cause notices for the period from 2006 to 2009. The Company initially received a favorable order by the Commissioner in the year 2009 against which the Department filed an appeal before the CESTAT Mumbai and the CESTAT remanded the matter for fresh adjudication by the Commissioner. In second round of litigation by virtue of remand, entire demand was dropped in June 2020 by the Commissioner, Mumbai accepting the classification adopted by the Company as “Other than Filter Cigarettes” as against “Filter Cigarettes” alleged by the Department. The Department has once again filed the appeal before the CESTAT, Mumbai in October 2020 and the matter is pending adjudication. Department appeal is pending before CESTAT. There was no material development on the matter during the quarter ended on 31st March 2026.
2 Additional Director, Directorate General of GST Intelligence (DGGSTI) 20-Apr-2022 The Company has received a show cause notice (SCN) in April 2022 issued by the DGGSTI, Delhi alleging that Input Tax Credit (ITC) relating to the period July 2017 to June 2018 and pertaining to the services availed/ procured at Head Office/Corporate Office of the Company and subsequently cross charged to all establishments and Goods & Service Tax (GST) registrations of the Company across the country, is ineligible for credit at the Head Office/Corporate Office of the Company since it was not registered as Input Service Distributor (ISD). Hence, in view of the DGGSTI, the ITC availed by the Company becomes recoverable with applicable interest and penalty. The Company had adopted the cross-charge mechanism instead of ISD basis the legal advice obtained by it. Recently this issue has also been covered by the CBIC in its Circular No.199/11/2023-GST dated 17.07.2023 which appears to have the effect of clarifying that as per the present provisions of the CGST Act and CGST Rules, it is not mandatory for the Head Office of a company to distribute ITC by ISD mechanism alone and appears to be meant to provide relief to the taxpayers who have adopted the cross-charge mechanism. The matter is at the SCN stage and is yet to be adjudicated by the Additional Commissioner. The Additional Commissioner, Central Goods & Service Tax, Delhi East, has passed an Order on 3rd February 2025: a) Confirming the demand of wrongly availed Input Tax Credit amounting to Rs. 27.72 Crore; b) Levying interest on the above referred amount at appropriate rate (amount not calculated) in terms of provisions of Section 50 of the CGST Act, 2017; c) Imposing penalty amounting to Rs. 27.72 Crore u/s 74(1) of the CGST Act, 2017; d) Imposing penalty amounting to Rs. 27.06 Crore for issuing invoices without supply of goods or services or both; e) Imposing penalty of Rs. 27.72 Crore for not obtaining Input Service Distributor Registration as applicable under the CGST Act, 2017; and f) Imposing penalty of Rs. 50,000 each upon two officials of the Company. The Company, based on its assessment and considering the legislative changes having taken place since issuance of the SCN, believes that it has a good case on merit and during the quarter ended 30th June 2025, the Company has filed the appeal before the Commissioner (Appeals). There was no material development on the matter during the quarter ended on 31st March 2026
3 Commissioner, Central Excise, Pune 23-Feb-2011 The Department has alleged that the Company has short paid excise duty on the manufacture of pan masala during the period July 2010 to September 2012 in terms of Pan Masala Packing Machines (Capacity Determination and Calculation of Monthly Duty Liability) Rules, 2008 (hereinafter referred as the Pan Masala Rules) and accordingly issued show cause notices (SCNs) based on Duty Determination Orders passed by the Assistant Commissioner, Baramati. The key contentions raised by the Department in the SCNs are summarised as under: (1) Excise duty is payable for complete month even though a packing machine is operated for part of the month (except where whole factory is closed for continuous period of at least 15 days) and abatement of excise duty, if any, shall be claimed subsequently. (2) Packing machines which have been sealed by the Department (but not uninstalled/removed from the factory) shall also be charged to excise duty. (3) Where the Company has operated more than one retail sale price (RSP) (Say Rs. 2 and Rs. 4) on separately assigned packing machines, each packing machine shall be counted as two machines as if each such machine is used for the manufacture of both such RSP and excise duty liability shall be computed accordingly. The Company appealed before the CESTAT, Mumbai which then remanded back the matter for fresh adjudication by the Department and the same is now pending before the Commissioner, Pune. By orders passed in February and March 2025, the SCNs covering duty amount of Rs. 79,42,46,201 have been decided in favour of the Company and the SCNs covering duty amount of Rs. 3,18,32,259 have been decided against the Company with levy of applicable interest and pentaly thereon. The Company has filed appeals against the two orders covering duty amount of Rs. 3,07,00,000 and has decided to pay the balance confimred demands of Rs.11,32,259 with applicable interest and penalty before CESTAT. There was no material development on the matter during the quarter ended on 31st March 2026
4 Office of the Commissioner of CGST and Central Excise Commissionerate, Belapur, Navi Mumbai. 04-Feb-2025 Order passed confirming demand of GST of Rs. 70,33,94,442/- and GST Compensation Cess of Rs. 12,56,06,150/- with applicable interest (amount not calculated) and imposing penalty of Rs. 82,90,00,592/- under the Central Goods and Services Tax Act, 2017 read with the relevant provisions of the Maharashtra GST Act, 2017 and the GST (Compensation) Act, 2017 for alleged undervaluation of supply of goods resulting in short payment of tax under the GST laws.During the quarter ended 30th June 2025, the Company has filed the appeal before the Commissioner (Appeals). There was no material development on the matter during the quarter ended on 31st March 2026