Quick Summary
In early trade on October 16, Godrej Properties witnessed a marginal drop in its shares as its subsidiary, Godrej Redevelopers (Mumbai) Private Limited (GRMPL), grappled with GST demand and penalty notices. At 9:22 am, the companys stock was trading at Rs 1,677.60, marking a decrease of Rs 10.05 or 0.60 percent on the Bombay Stock Exchange (BSE). Subsidiary GRMPL, on October 13, received a substantial GST demand notice amounting to Rs 48,31,06,179, accompanied by accrued interest and a
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FAQ :
Godrej Properties' shares saw a marginal drop due to its subsidiary, Godrej Redevelopers (Mumbai) Private Limited (GRMPL), receiving a GST demand and penalty notice.
The GST demand notice against GRMPL amounts to Rs 48,31,06,179, along with accrued interest and an equal penalty.
The demand notice pertains to an alleged non-payment of GST linked to one of GRMPL's projects in Mumbai.
Godrej Properties has stated that the company intends to challenge the order and that it will not materially impact its financials, operations, or other activities.
GRMPL received the GST demand notice on October 13th.
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