Tax & Penalty8 Jun 2026, 07:21 pm
Jubilant Ingrevia Wins CGST Appeal, ₹72 Lakh Demand Set Aside
AI Summary
Jubilant Ingrevia Ltd has received a favorable order from the Commissioner Central Goods and Service Tax (Appeals), Meerut. The order, dated May 26, 2026, and received on June 8, 2026, sets aside the demand for Service Tax on Ocean Freight, along with associated penalty and interest, for the financial year 2017-18. This decision effectively removes a contingent liability of ₹36,04,971 in basic tax, ₹36,04,971 in penalty, and applicable interest, totaling approximately ₹72.1 Lakhs, from the company's financial obligations. The company has also stated that this order will be posted on its website.
Key Highlights
- CGST Appeals Commissioner ruled in favor of Jubilant Ingrevia.
- Service tax demand of ₹36.05 Lakhs on Ocean Freight set aside.
- Associated penalty of ₹36.05 Lakhs and interest also waived.
- Contingent liability of approximately ₹72.1 Lakhs removed.
- Order pertains to financial year 2017-18.
Price Impact
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