Kansai Nerolac Gets Partial Relief on GST Penalty, Reduced to ₹1.45 Cr

Kansai Nerolac Paints Ltd has received an order from the Joint Commissioner of State Tax (Appeal) Ahmedabad, Gujarat, providing partial relief on a Goods and Services Tax (GST) penalty. The penalty amount has been reduced to ₹1,45,58,104/-. This order pertains to the disallowance of Input Tax Credit (ITC) claimed by the company for FY 2017-18 in Gujarat. The company, confident in its claim, plans to appeal the order before the GST Appellate Tribunal. Kansai Nerolac states there is no material impact on its financials, operations, or other activities due to this order.