CESTAT quashes Rs 32.4 lakh excise demand in favor of JSW Dulux
JSWDULUX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.1 pts less than Nifty Smallcap 250 and 0.4 pts less than its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The CESTAT tribunal has allowed JSW Dulux's appeal and set aside the entire excise duty demand of Rs 32.41 lakh (tax of Rs 16.20 lakh, plus equal penalty and interest). The demand stemmed from a difference between sales reported in the P&L and ER-1 returns. The Commissioner (Appeals) had earlier rejected the company's appeal on 15 Jan 2025. With CESTAT's final order dated 31 July 2026, the demand stands fully annulled and there is no further liability for the company.
Positive for shareholders as the entire excise demand of Rs 32.4 lakh has been annulled, removing any financial liability from this dispute.