Announced Wed, 13 May · 15:08 IST

Star Delta Transformers has received an order in appellate capacity by Commissioner (Appeals), CGST & Excise, Bhopal (M.P.) upholding the order passed by Additional Commissioner, CGST & ....

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close
+0.1%1-day move
₹543.00
prior close
₹543.00
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AI summary

Star Delta Transformers has received an unfavorable order from the Commissioner (Appeals), CGST & Central Excise, Bhopal, upholding an earlier penalty order. The appellate authority rejected the company's appeal and confirmed penalties totaling ₹5,12,780 (₹4,62,780 under Section 122(1)(ii) and ₹50,000 under Section 122(3)(a) of CGST Act, 2017). The penalty relates to allegations that the company issued invoices without actual supply of goods or services, connected to passing on of Input Tax Credit. The company received this adverse order on May 12, 2026, and states it will prefer another appeal in the matter.

Likely market impact

This is a negative development as the company has lost at the first appellate level. While the penalty amount of around ₹5 lakh is relatively small, the underlying allegation of fake invoicing is a serious compliance concern. The company plans further appeals, so the financial impact remains uncertain.