Gravita India Limited has informed the Exchange about Action(s) taken or orders passed
GRAVITA · price
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Awaiting price reaction for this filing.
Gravita India has received an order from the Commissioner (Appeals), Central GST Appeals Commissionerate, Jammu, dated August 8, 2025, requiring the company to pay Rs. 34,62,056, which includes equal portions of tax (Rs. 17.31 lakhs) and penalty (Rs. 17.31 lakhs). The order relates to Input Tax Credit (ITC) availed in contravention of Section 16 of the CGST Act, 2017, arising from invoices issued by one of the company's vendors. The company had already filed an appeal, which has now been rejected by the Appellate Authority. Gravita plans to file a further appeal before the GST Appellate Tribunal (GSTAT). The company has stated that it does not foresee any material impact on its financial or operational activities from this order.
The financial impact is relatively small (around Rs. 34.6 lakhs) compared to the company's overall scale, and management has confirmed no material impact. However, the GST matter is ongoing and could escalate if the GSTAT appeal also goes against the company. Short-term sentiment may be mildly negative, but the market is unlikely to react significantly given the small quantum involved.