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| Exchange Disseminated Time | Ind Swift Ltd has informed BSE that the Company has deposited a sum of Rs 10 million on Account of certain cenvat Credit availed by Company which was found to be non admissible by the Excise Authorities.
The Company in the process of expansions, procured various fabricated equipments from certain suppliers in and around Delhi. The excise authorities during its visit to the company premises found certain cenvat credit availed by the Company as inadmissible.
As a good corporate governance, Company voluntarily deposited a sum of Rs 10 million towards the excise duty and the exact amount is being worked out in co-operation with the excise authorities. |
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