Commissioner Sets Aside Service Tax Demand on Ocean Freight for Jubilant Ingrevia Limited
Jubilant Ingrevia Limited has received a favorable order from the Commissioner Central Goods and Service Tax (Appeals), Meerut, setting aside the demand of Service Tax on Ocean Freight, along with associated penalty and interest pertaining to the financial year 2017-18.The decision was conveyed following the appeal against the service tax demand that had been confirmed by the Assistant Commissioner, CGST, Division Bijnor. The favorable order, dated May 26, 2026, removes a significant contingent liability from the company's accounts.
According to the details provided in the ruling, the appeal was allowed by the Honorable Commissioner, Central Goods and Service Tax (Appeals), Meerut, against the original service tax demand. This action relates specifically to the basic tax of ₹36,04,971/- on Ocean Freight, which included a corresponding penalty amount of ₹36,04,971/-, along with applicable interest for the specified financial year.
The resolution has provided a positive impact on the company's finances by setting aside the total demand. The key details regarding this regulatory action are summarized below:
| Authority | Nature of Order | Date of Receipt | Impact Detail |
|---|---|---|---|
| Commissioner Central Goods and Service Tax (Appeals), Meerut | Favorable order in appeal no. MRT/ EXCUS/000/APPL- MRT/ 06/ 2026-27 | June 8, 2026 | Demand of Service Tax on Ocean Freight set aside; contingent liability removed from the Company's books. |
The setting aside of the demand comprises the basic tax amount of ₹36,04,971/- and a penalty amounting to ₹36,04,971/-, both related to the financial year 2017-18.
JUBLINGREA Stock Price Movement
Jubilant Ingrevia Limited shares slipped by 1.32% today, closing at ₹618 as traders reacted to market movements. The stock saw activity within an intraday range of ₹615.6 and ₹627.45, with a total traded volume of 143,902 shares recorded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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