Crompton Greaves Consumer Electricals Faces ₹52.36 Lakh Tax Demand

Crompton Greaves Consumer Electricals Ltd has received an order from the State Tax, Chhattisgarh, upholding a tax demand of INR 23,36,265/-, interest of Rs. 26,66,030/-, and a penalty of INR 2,33,627/-, totaling INR 52,35,922/- for the period July 2017 to March 2018. The demand is related to the disallowance of transitional credit claimed by the company. The company plans to appeal this order, citing prevailing law and consultant advice, and reasonably expects a favorable outcome. The potential impact is quantified at INR 62,83,208/-, but the company states there is no material impact on its financials, operations, or other activities.