Tax & Penalty25 Aug 2026, 11:28 am
Jyothy Labs Receives ₹20.35 Cr Excise Duty Order
AI Summary
Jyothy Labs Ltd announced on August 24, 2026, the receipt of an Excise Duty Order from the Commissionerate of Central Goods and Services Tax for the period April 2016 to June 2017. The order demands ₹9.69 crore in excise duty, ₹0.97 crore in penalty, and ₹9.69 crore as redemption fine, plus applicable interest. This is due to a difference in interpretation of HSN classification. The company has a favorable prior ruling on a similar dispute and is filing an appeal. Jyothy Labs does not foresee any material financial or operational impact.
Key Highlights
- Excise duty order issued for ₹9.69 Cr plus penalty and fine.
- Dispute arises from HSN classification interpretation.
- Company has prior favorable ruling and is appealing.
- No material financial or operational impact expected.
Price Impact
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