Crompton Greaves Consumer Electricals Limited has received an order from the Office of the Additional Commissioner of Appeals, State Tax, Chhattisgarh, confirming a tax demand for the period July 2017 to March 2018.
The order dated June 23, 2026, was received by the company on June 24, 2026. The Commissioner (Appeals) upheld the earlier order passed by the Deputy Commissioner of State Tax for the financial year 2017-18. The demand was raised on account of disallowance of transitional credit claimed by Crompton Greaves Consumer Electricals under the Goods and Services Tax Act, 2017.
The confirmed demand includes a tax component of Rs 0.23 crore, interest of Rs 0.27 crore, and a penalty of Rs 0.02 crore. The total demand upheld by the appellate authority is Rs 0.52 crore.
Crompton Greaves Consumer Electricals plans to appeal the order under Section 112 of the SGST Act, 2017. The company expects a favorable order from appellate authorities, basing its position on the merits of the matter and the advice received from its consultant.
The potential total exposure in this matter, comprising tax of Rs 0.23 crore, interest of Rs 0.37 crore, and penalty of Rs 0.02 crore, amounts to Rs 0.63 crore under the GST Act. Crompton Greaves Consumer Electricals has clarified that the order does not have a material impact on its financials, operations, or other activities. The disclosure was made to the BSE and the National Stock Exchange of India under Regulation 30 of the SEBI Listing Regulations, referencing a prior intimation from December 2023.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.