Crompton Greaves Consumer Electricals Limited Receives Order Regarding State Tax Appeal
Crompton Greaves Consumer Electricals Limited announced March 31, 2026, that it has received an order from the Joint Commissioner of State Tax (Appeal -VI) partially confirming an earlier order from the Deputy Commissioner of State Tax for the financial year 2018-19. The original order, issued April 30, 2024, stemmed from an assessment under the SGST Act, 2017, and raised a demand related to disallowance of Input Tax Credit and GST on Credit notes.The company initially appealed the Deputy Commissioner’s order to the Commissioner (Appeals). Based on legal advice and a review of the merits of the case, Crompton Greaves Consumer Electricals Limited plans to appeal the Joint Commissioner’s order further, citing Section 112 of the SGST Act, 2017, and anticipates a favorable outcome.
The potential financial impact of the order is INR 22,45,82,868, comprising INR 10,26,78,152 in tax, INR 11,15,19,646 in interest, and INR 1,03,85,070 in penalties. The company stated that this development is not expected to have a material impact on its financial, operational, or other activities.
| Detail | Information |
|---|---|
| Nature of Action/Order | Order from Joint Commissioner of State Tax (Appeal - VI), Mumbai partially confirming the Deputy Commissioner's order for the financial year 2018-19. |
| Date of Receipt | March 30, 2026 |
| Authority | Joint Commissioner of State Tax (Appeal - VI), Mumbai. |
| Details of Violation/Contravention | Demand raised due to disallowance of Input Tax Credit and GST on Credit notes. |
| Potential Financial Impact (Quantifiable) | INR 22,45,82,868 (Tax INR 10,26,78,152, interest INR 11,15,19,646, and penalty of INR 1,03,85,070), with no material impact on company operations. |
The information was disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Rashmi Khandelwal, Company Secretary & Compliance Officer, signed the disclosure.
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