Ramco Industries Ltd

Ramco Industries Faces GST Penalties for Corporate Guarantees ⚖️

- Tamil Nadu Windmill GST authority issued penalty orders to Ramco Industries Ltd.

- Orders relate to Corporate Guarantees provided to group company Harini Textiles Ltd. (FY 2018-19 to 2023-24).

- FY 2018-19: GST (₹8.33L), interest (₹9.80L), penalty (₹8.33L).

- FY 2019-20: GST (₹8.33L), interest (₹8.30L), penalty (₹8.33L).

- FY 2020-21: GST (₹8.33L), interest (₹6.80L), penalty (₹8.33L).

- FY 2021-22: GST (₹8.33L), interest (₹5.30L), penalty (₹8.33L).

- FY 2022-23: GST (₹8.33L), interest (₹3.80L), penalty (₹8.33L).

- FY 2023-24: GST (₹8.33L), interest (₹1.15L), penalty (₹8.33L).

- Total penalty across all orders: ₹45.82 lakhs.

- Orders received on 4th November 2025 under Section 74 of the CGST Act, 2017.