Announced Thu, 23 Jul · 16:28 IST
Graphite India gets partial relief in GST appeal, plans further appeal
Regulatory & Legal View source PDF
GRAPHITE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+0.0%1-day move
₹660.00
prior close
₹657.05
base price
After-mkt
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AI summary
Graphite India received an appellate order under Section 73 of the CGST/WBGST Act from the Additional Commissioner (Appeals), State Tax. The appeal was partially allowed and the original order modified. Tax demand of about Rs 35.99 lakh, interest of about Rs 35.52 lakh, and penalty of about Rs 3.60 lakh were upheld related to alleged excess Input Tax Credit. The company states there is no material financial impact and will file a further appeal.
Likely market impact
Total demand around Rs 75 lakh including interest. Company says no material impact and will appeal further. Minimal effect on shareholders.