Grindwell Norton Receives Order from CGST and Central Excise
Grindwell Norton Limited announced on April 4, 2026, that it received an order from the Office of the Superintendent of CGST and Central Excise. The order pertains to a matter involving excess Input Tax Credit (ITC) claimed for the period of fiscal years 2019-20 to 2023-24.The Authority has instructed Grindwell Norton to pay a tax amount of ₹268,065 and a penalty of ₹268,065, resulting in a total payment of ₹536,130.
According to the company, it is currently evaluating options, including the possibility of filing an appeal against the order. Grindwell Norton stated that the order is not expected to have a material impact on its financial, operational, or other activities.
| Detail | Information |
|---|---|
| Authority | Office of the Superintendent CGST and Central Excise |
| Date of Order | April 3, 2026 |
| Financial Impact | Tax of ₹268,065 and penalty of ₹268,065, totaling ₹536,130 |
| Details of Violation | Excess ITC claimed for FY 2019-20 to FY 2023-24 |
| Potential Action | Evaluating options, including filing an appeal |
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