Crompton Greaves Consumer Electricals: Appeal Confirmed by Appeals Commissioner

Crompton Greaves Consumer Electricals Ltd has received an order from the Additional Commissioner (Appeals), Chandigarh, confirming a prior order from the Assistant Commissioner, Baddi, Himachal Pradesh. This order pertains to a demand raised for the financial year 2020-21, related to alleged excess Input Tax Credit claimed. The total demand amounts to ₹1,59,27,495/-, comprising tax, interest, and penalty. The company plans to appeal this order before higher appellate authorities, expecting a favourable outcome based on the merits of the case and legal advice. Despite the demand, the company states there is no material impact on its financials or operations.