Tax & Penalty13 May 2026, 11:38 am
Shilchar Tech: Tax Appeal Sets Aside ₹3.17 Cr Demand
AI Summary
Shilchar Technologies Ltd. received an order from the Commissioner of Central Tax (Appeals), CGST and Central Excise, Vadodara, regarding a demand of ₹3,19,24,454. The order, dated April 30, 2026, and received on May 12, 2026, set aside a demand of ₹3,17,73,217, including directions to re-determine a demand of ₹1,64,50,315 under Section 73 of the CGST Act, 2017. The interest and penalty related to the set-aside tax demand were also waived. The company states that the order does not have a material impact on its financial position or operations.
Key Highlights
- Commissioner of Central Tax (Appeals) set aside a demand of ₹3.17 Cr for Shilchar Technologies.
- The order includes re-determination of a demand of ₹1.64 Cr under Section 73 of the CGST Act.
- Interest and penalty related to the set-aside tax demand have also been waived.
- Shilchar Technologies states the order does not have a material financial impact.
Price Impact
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