Legal31 Mar 2026, 03:51 pm
Crompton Greaves Consumer Electricals Ltd Receives Partial Confirmation of SGST Act Order for FY 2018-19
AI Summary
Crompton Greaves Consumer Electricals Ltd has received an order from the Joint Commissioner of State Tax (Appeal–VI), Mumbai, partially confirming an earlier order passed by the Deputy Commissioner of State Tax under section 73 of the SGST Act, 2017. The order pertains to the financial year 2018-19. The company had previously filed an appeal against the initial order and plans to appeal against this latest order as well, expecting a favourable outcome from the appellate authorities. The potential impact of the order is estimated to be INR 22,45,82,868, including tax, interest, and penalty. However, the company states that there is no material impact on its financials, operations, or other activities.
Key Highlights
- Crompton Greaves Consumer Electricals Ltd has received an order from the Joint Commissioner of State Tax (Appeal–VI), Mumbai, partially confirming an earlier order passed by the Deputy Commissioner of State Tax under section 73 of the SGST Act, 2017.
- The order pertains to the financial year 2018-19 and the potential impact is estimated to be INR 22,45,82,868, including tax, interest, and penalty.
- The company had previously filed an appeal against the initial order and plans to appeal against this latest order as well, expecting a favourable outcome from the appellate authorities.
- The potential impact includes a tax amount of INR 10,26,78,152, interest of INR 11,15,19,646, and penalty of INR 1,03,85,070.
- Despite the potential impact, the company states that there is no material impact on its financials, operations, or other activities.