Tax & Penalty14 Jul 2026, 04:24 pm
Panchmahal Steel: Tax Appeals Partially Allowed, Partially Rejected
AI Summary
Panchmahal Steel Ltd has received orders from the Deputy Commissioner of State Tax, Appeal-5, Vadodara, concerning appeals filed under the CGST/SGST Act, 2017. One appeal (ARN No. AD240324058081I) related to disallowance of Input Tax Credit for the period July 2017 to March 2018 was partially allowed, resulting in a pending demand of ₹2,26,321 out of an initial demand of ₹79,18,336. The second appeal (ARN No. AD240722008501M) was rejected, with the full demand of ₹31,62,776 remaining. The company states there is no material impact on its financials or operations and is reviewing the orders to evaluate next steps.
Key Highlights
- Two tax appeals decided by Deputy Commissioner of State Tax, Vadodara.
- One appeal partially allowed, reducing demand to ₹2,26,321.
- Second appeal rejected, with full demand of ₹31,62,776 upheld.
- Company reports no material financial or operational impact.
- Panchmahal Steel is reviewing orders and considering further action.
Price Impact
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