Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and amendment thereto, we wish to inform you that, the Deputy ....
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Awaiting price reaction for this filing.
Kranti Industries won an appeal before the Deputy State Tax Commissioner in Vadodara, Gujarat, related to an incorrect vehicle number mentioned in an E-Way Bill. The Gujarat State Tax Officer had originally imposed a penalty of Rs. 11,11,024 under Section 129(3) of the GST Act, 2017. In the Final Appellate Order dated November 10, 2025, the authority confirmed the mistake was a clerical error, reduced the penalty to just Rs. 10,000, and ordered a refund of Rs. 11,01,024 to the company. The company has stated there is no material impact on its financials or operations.
Positive for shareholders — the company recovers nearly the entire Rs. 11 lakh previously paid as penalty, with only a minor Rs. 10,000 penalty retained. Minimal financial impact overall.