Legal17 Mar 2026, 07:02 pm
R&B Denims Ltd: Imposed Penalty of Rs. 43,66,118 Set Aside
AI Summary
R&B Denims Ltd has announced that a penalty of Rs. 43,66,118 imposed by the Assistant Commissioner of Central Goods and Services Tax, Gujarat, in connection with an issue relating to availment of Input Tax Credit (ITC) has been set aside. The Company had filed an appeal against the aforesaid order before the appropriate appellate authority, which has now been decided in favour of the Company.
Key Highlights
- R&B Denims Ltd has had a penalty of Rs. 43,66,118 set aside by the appellate authority.
- The penalty was imposed by the Assistant Commissioner of Central Goods and Services Tax, Gujarat, in connection with an issue relating to availment of Input Tax Credit (ITC).
- The Company did not foresee any financial impact on account of the above matter.