Adani Enterprises receives demand order from state tax authority

Adani Enterprises (ADANIENT) has announced receipt of a demand order from the Assistant Commissioner of State Tax, Ahmedabad, concerning a penalty collection. The order, issued on February 26, 2025, pertains to alleged excess availment of input tax credit in GST returns filed for the fiscal year 2020-21. The total demand amounts to Rs. 11,56,956. Adani Enterprises stated it does not consider the demand sustainable under the CGST Act, 2017, and intends to appeal the order before the Appellate Authority under section 107 of CGST Act, 2017. The company maintains that the order will not have a material impact on its financial operations and other activities. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations.