GST Matter: Crompton Greaves Consumer Electricals Limited's Appeal Against Tax Demand Stands Upheld by Appellate Authority
Crompton Greaves Consumer Electricals Limited has received an order from the Commissioner (Appeals) regarding a Goods and Service Tax (GST) demand for the financial year 2019-20. The order, which was received on June 15, 2026, upheld the decision previously made by the Office of the Assistant Commissioner.The company had previously intimated authorities about an assessment order issued by the Principal Commissioner of Central Tax, Hyderabad, dated August 14, 2024, pertaining to tax matters for the 2019-20 period.
The current demand stems from alleged violations and contraventions related to GST compliance. The specified areas include claims of excess Input Tax Credit (ITC) taken in GSTR 3B compared to GSTR 2A records, short payment of tax relative to Ewaybill data, and the inclusion of ineligible ITC detailed in Table 8A of GSTR 9.
The Commissioner (Appeals) confirmed the original assessment, leading the company to plan an appeal against this latest order. Crompton Greaves Consumer Electricals Limited intends to pursue further appeals under Section 112 of the SGST Act, 2017, expressing confidence in a favorable outcome from appellate authorities.
The potential financial impact associated with the demand is detailed below:
| Item | Amount |
|---|---|
| Tax Component | ₹ 1,50,08,177 |
| Interest Component | ₹ 1,67,63,928 |
| Penalty | ₹ 15,00,818 |
| Total Potential Impact | ₹ 3,32,72,923 |
Despite the assessed potential impact of ₹ 3,32,72,923 under the Goods and Service Tax Act, 2017, the company stated that there is no material impact on its financials or operational activities.
CROMPTON Stock Price Movement
Crompton Greaves Consumer Electricals Limited shares today slipped by 0.39% to settle at ₹264.7. The stock traded within an intraday range of ₹261.1 and ₹269.2, amid a reported volume of 1,219,108 shares.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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