V-Guard Industries: GST demand for $20.7 crore dropped

V-Guard Industries Limited announced on October 29, 2025, that it received an order from the Assistant Commissioner, Central GST, Gangtok Division, Sikkim, dropping a previously communicated demand. This order, dated October 28, 2025, relates to a demand for taxes and interest that was initially raised in a Demand Note dated June 20-23, 2025.

The demand, amounting to INR 20,70,28,577, pertained to the financial years 2017-18 to 2024-25. It stemmed from an alleged claim of excess budgetary support by the company's units. However, the authority has now dropped this demand after considering the reply submissions made by V-Guard Industries. The company reported no financial implications as a result of this development.