Receipt of Order from Commissioner of Appeals, CGST and Central Excise
GRAUWEIL · price
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Awaiting price reaction for this filing.
Grauer & Weil India has received an order dated 16 March 2026 from the Commissioner of Appeals, CGST and Central Excise, Thane, in connection with a Cenvat Credit dispute. The company's appeal was partially allowed and partially upheld; the order rejected Cenvat credit of Rs. 11,71,712 and levied an equivalent penalty of Rs. 11,71,712. The dispute also involved Rs. 1.19 lakh of Cenvat credit allegedly availed after a one-year lapse. The company has stated it will file a further appeal against the order, and noted that there is no major financial impact on its business beyond the amounts already specified.
The combined financial hit stands at roughly Rs. 23.43 lakh (disallowance plus equal penalty), which the company calls immaterial. The partial loss in appeal is mildly negative but not material to the stock, though a further appellate round remains open.