Greenply Industries Limited has informed the Exchange about Action(s) taken or orders passed passed by the Additional Commissioner (Appeals) CGST, Central Excise & Customs 3rd Floor, GST Bhawan, Kedar Road, Machkhowa, Guwahati-781001, arising out of an appeal filed by the Company. The Additional Commissioner (Appeals) has quashed order in original passed by the Assistant Commissioner Dimapur.
GREENPLY · price
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Awaiting price reaction for this filing.
Greenply Industries won an appeal before the Additional Commissioner (Appeals), CGST, Guwahati, against a penalty order originally passed by the Assistant Commissioner, Dimapur. The original order had demanded a penalty of Rs. 1.81 crore (Rs. 1,81,04,496) for alleged late payment of tax on royalty payments to the government for the period July 2017 to December 2022. The appellate authority quashed the original order, stating that the allegation against the company was not established for imposition of penalty under Section 74 of the CGST Act, 2017. The company received the order on July 18, 2025, and stated there is no material impact on its financials or operations.
Positive for shareholders — the company has successfully avoided a Rs. 1.81 crore penalty. This removes a potential financial liability and reinforces that there is no material adverse impact on the company's books or operations.