CGST Appellate Order Upheld - Amara Raja to Approach Tribunal
ARE&M · price
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On the reaction day the stock moved in line with Nifty Smallcap 250 and 0.5 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The CGST Appeals authority in Meerut upheld an original order against Amara Raja Energy and Mobility related to excess claim of Input Tax Credit and mismatch in GSTR-9 data. Total demand stands at tax of about Rs 1.89 crore, penalty of about Rs 18.91 lakh, plus interest. The company states there is no material impact on financials or operations, will file an appeal before the GST Tribunal, and notes the liability was already disclosed as a contingent liability in its financial statements.
No material impact expected as amount was already shown as contingent liability. Stock unlikely to react; Tribunal appeal outcome remains key.