Announced Wed, 24 Jun · 18:23 IST
Crompton Greaves faces about INR 62.83 lakh GST demand, plans to appeal
Regulatory & Legal View source PDF
CROMPTON · price
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Price reaction · full curve 14 horizons · vs prior close
-0.9%1-day move
₹275.40
prior close
₹276.50
base price
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AI summary
Commissioner (Appeals), State Tax, Chhattisgarh upheld a GST demand of INR 23.36 lakh plus interest of INR 26.66 lakh and penalty of INR 2.34 lakh, totaling INR 52.36 lakh for July 2017 to March 2018. The demand is about disallowance of transitional credit under GST. Potential total impact is about INR 62.83 lakh. Crompton plans to appeal under Section 112 of SGST Act and expects a favorable order. Company says no material impact on financials.
Likely market impact
Minor tax demand of about INR 62.83 lakh. Company plans to appeal. No material impact on financials or operations as per management.