R R Kabel faces GST penalty of Rs 34.12 lakh, plans to appeal
RRKABEL · price
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R R Kabel has been slapped with two ex-parte GST penalty orders totaling Rs 34.12 lakh by the CGST department in Daman, Dadra and Nagar Haveli. The penalties of Rs 15.31 lakh and Rs 18.81 lakh relate to alleged supplies of goods without actual movement of goods. The company has stated it will file an appeal against both orders. No other impact on operations is expected apart from the penalty amount if it is upheld after appeal.
Modest financial impact of Rs 34.12 lakh. Company is contesting via appeal, so no material effect on operations or shareholders expected.