GST penalty order of Rs 16.5 lakh for FY 2018-19, company to appeal
KANSAINER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250 and in line with its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Kansai Nerolac received a GST order from the Superintendent of GST and Central Excise, Vadapalani, imposing a penalty of Rs 16,50,467 under Section 74 of the CGST Act. The demand relates to alleged short payment of tax on outward supply consignments in Tamil Nadu during FY 2018-19. The company says the order is based on a wrong understanding of facts, that it has already paid adequate taxes and has records to prove its claims, and is in the process of filing an appeal. No material impact on financials, operations, or other activities is expected.
Minor penalty of Rs 16.5 lakh; company disputes the order and will appeal. No material impact on financials or operations stated.