Tax & Penalty13 May 2026, 06:01 pm
Timex India: Appellate Authority Reduces GST Demand to ₹10.04 Lakh
AI Summary
Timex Group India Ltd. has received an order from the Additional Commissioner, Appellate Authority, CBIC, Chandigarh, regarding an appeal against a previous order. The appellate authority partially allowed the appeal, reducing the demand payable by the company to ₹10,04,471 against a disputed amount of ₹56,70,750. The matter has been remanded back for reassessment. The company is assessing the impact and will file a response with legal counsel.
Key Highlights
- Timex India receives order from Appellate Authority, CBIC, Chandigarh.
- GST demand reduced to ₹10,04,471 from disputed ₹56,70,750.
- Matter remanded for reassessment against original order.
- Company to file response with legal counsel.
Price Impact
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