Tax & Penalty4 Jun 2026, 02:40 pm
Ceat Ltd: GST Demand Reduced to ₹6.4 Cr in Rectified Order
AI Summary
Ceat Ltd has received a rectified order from the State Tax Officer, Group-VIII, Intelligence-II Chennai, concerning a Goods and Services Tax (GST) demand for FY 2019-20. The original demand for tax and penalty was ₹4.7 Crore each, plus interest. The revised order, issued on June 3, 2026, reduces the confirmed demand to ₹3.2 Crore for tax and ₹3.2 Crore for penalty, plus applicable interest, related to alleged ineligible input tax credit. The company is considering an appeal but believes the impact on its financials and operations will not be material.
Key Highlights
- GST demand for FY 2019-20 rectified by tax authorities.
- Confirmed demand reduced to ₹3.2 Cr tax and ₹3.2 Cr penalty.
- Company believes no material financial or operational impact.
- Ceat Ltd is exploring options to appeal the rectified order.
Price Impact
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