We wish to inform you that the Company has received an Order (Form GST APL-04) from the Additional Commissioner, Appellate Authority, CBIC, Chandigarh on the order-in-appeal dated February ....
TIMEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Timex Group India has received a GST appellate order (Form GST APL-04) from the Additional Commissioner, Appellate Authority, CBIC, Chandigarh. The appellate authority partially allowed the company's appeal, reducing the original demand from INR 56,70,750 to INR 10,04,471. A penalty of INR 1,00,447 plus potential interest may also apply. The matter has been remanded back for reassessment to the Assistant Commissioner, CGST Division, Baddi. The company is evaluating the impact with legal counsel and will file a response shortly. This follows earlier disclosures made in January 2024, August 2024, and February 2026.
The partial relief from INR 56.7 lakh to INR 10 lakh demand is a positive development, though the company still faces a liability of around INR 10 lakh plus penalty. The financial impact is relatively small for a listed entity and unlikely to materially affect operations, but the ongoing reassessment introduces uncertainty.