Vedant Fashions Wins GST Appeal: Interest and Penalties Totaling ₹2,73,471 Are Set Aside
Vedant Fashions Limited has achieved a favorable outcome in a Goods and Services Tax (GST) appeal, with the Appellate Authority setting aside the demand for interest and penalties amounting to ₹2,73,471.The appeal was disposed of by the Additional Commissioner, Office of the Commissioner of CGST and CEX (Appeals-III), Mumbai. The Company received the Order-in-Appeal, dated August 28, 2026, via email on September 08, 2026.
The appeal relates to an Order-in-Original issued under the GST audit covering Financial Years (FY) 2017-18, FY 2018-19, and FY 2019-20. The GST orders pertain to the Central Goods and Services Tax Act, 2017 (CGST Act 2017), the Maharashtra Goods and Services Act, 2017 (SGST Act, 2017), and the Integrated Goods and Service Tax Act, 2017 (IGST Act, 2017).
The Appellate Authority disposed of the appeal filed by the Company with specific directions regarding the previous orders.
Key outcomes of the appeal are detailed below:
| Aspect of the Appeal | Outcome |
|---|---|
| Input Tax Credit (ITC) Appropriation | Upholded the appropriation amounting to ₹1,73,471, which the Company had already voluntarily reversed and which was not disputed in the appeal. |
| Demand for Interest | Set aside. |
| Penalties | Set aside penalties aggregating to ₹2,73,471. |
The Order-in-Appeal is considered favourable to Vedant Fashions Limited, as the demand for interest and the associated penalties were set aside by the Appellate Authority. Consequently, the Company reported no material adverse impact on its financial position, operations, or other activities from this ruling.
The matter arose from an Order-in-Original that was served on Manyavar Creations Private Limited, which has since been amalgamated with the Company.
MANYAVAR Stock Price Movement
Vedant Fashions Limited shares are slipping by 0.83% in live trading, currently trading at ₹576.5 as of 12:42 PM. The stock trades within a broad intraday range, with the recorded low of ₹575.0 reflecting the pressure seen throughout the market.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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