SRF Limited has informed the Exchange about Action(s) taken or orders passed
SRF · price
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SRF Limited has received a favorable appellate order from CESTAT (Customs, Excise and Service Tax Appellate Tribunal), Delhi. The tribunal has quashed an earlier demand/penalty of Rs. 36,85,987 imposed by the office of Assistant Commissioner, CGST & Cex, Division – II, Gwalior, Madhya Pradesh. The company had filed an appeal against this penalty (originally imposed in November 2023) and the CESTAT has ruled in favor of SRF, stating the demand cannot be sustained against the company. This resolves the tax dispute in the company's favor.
Positive development for SRF — the tax penalty demand has been fully quashed, removing a contingent liability of Rs. 36.86 lakh. No adverse impact on shareholders; the dispute is now concluded in the company's favor.