Graphite India Receives Tax Order from Additional Commissioner (Appeals)

Graphite India Ltd has received an order from the Additional Commissioner (Appeals), State Tax, LTU, concerning an order under Section 73 of the CGST/WBGST Act, 2017. The appeal was partially allowed, modifying the original order. The company has been assessed a demand for Tax, Interest, and Penalty totaling ₹75,11,087. Specifically, Tax is ₹35,98,869, Interest is ₹35,52,232, and Penalty is ₹3,59,886. Graphite India believes it has availed only eligible Input Tax Credit (ITC) and does not foresee a material financial impact. The company is reviewing the order and intends to file an appeal.