Vishal Fabrics announced a significant update concerning a GST penalty.

The company previously faced an initial penalty demand of Rs. 24.27 Cr, which was later revised to Rs. 21.36 Cr.

However, the Office of the Commissioner (Appeals) Central GST has now issued a Final Order, determining the demand as zero.

This positive development means the company will not incur any material financial impact from this matter, providing a relief for shareholders by removing a potential financial liability.