Jayaswal Neco Industries Limited has informed the Exchange about Action(s) taken or orders passed
JAYNECOIND · price
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On the reaction day the stock moved 1.4 pts more than Nifty Microcap 250 and 2.3 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Jayaswal Neco Industries informed the exchanges that the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), New Delhi, has dismissed an appeal filed by the Commissioner of CGST & Central Excise, Raipur, against an earlier order that had dropped a demand of CENVAT credit, interest, and penalties raised against the company via a show cause notice dated April 18, 2016. The tribunal upheld the March 31, 2023 order of the Principal Commissioner, CGST & Central Excise, Ujjain, which had ruled there was no error in dropping the demand. The company received the CESTAT order on May 8, 2025. This brings closure to a tax dispute that had been pending for nearly nine years.
Positive for shareholders — the dismissal removes the risk of a potentially significant CENVAT credit, interest, and penalty demand materialising against the company, removing a long-pending tax overhang.