Kansai Nerolac Paints Faces Tax Assessments, Maintains No Material Impact
Kansai Nerolac Paints Limited announced on March 30, 2026, orders passed under Section 74 of the Central Goods and Services Tax Act, 2017 (CGST Act). The company disclosed the information in accordance with Securities and Exchange Board of India (SEBI) regulations.Assessment Year 2017-18
The Commissioner Appeals II, CGST & Central Excise, Mumbai, confirmed a penalty of Rs. 2,78,89,642 for disallowance of transitional Input Tax Credit claimed by the company during fiscal year 2017-18 for the state of Maharashtra. The company intends to appeal the order before the GST Tribunal.
Assessment Year 2019-20
The Deputy Commissioner, CGST Division-West, CGST Faridabad, imposed a penalty of Rs. 20,49,698, primarily due to partial disallowance of Input Tax Credit claimed by the company during fiscal year 2019-20 for the state of Haryana. Kansai Nerolac Paints plans to appeal this order as well.
According to the company, these assessments will have no material impact on its financial, operational, or other activities.
G. T. Govindarajan, Company Secretary for Kansai Nerolac Paints Limited, made the disclosure. The company's stock is listed on the BSE with Scrip Code 500165 and on the NSE with Symbol KANSAINER.
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