Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
GRINDWELL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Grindwell Norton Limited has received an order from the Office of the Superintendent CGST and Central Excise requiring payment of ₹2,68,065 as tax and ₹2,68,065 as penalty, totalling ₹5,36,130. The matter relates to excess Input Tax Credit (ITC) claimed for the financial years 2019-20 to 2023-24. The company is evaluating all options including the possibility of filing an appeal against the order. Management has stated there is no material impact on the financial, operational, or other activities of the company.
The penalty amount of approximately ₹5.4 lakh is relatively small for a listed company of this size, and management has confirmed no material impact. The stock is unlikely to be affected unless the order escalates upon appeal.