Acutaas Chemicals has received an update regarding a previously announced order. An order dated January 20, 2026, has been received, communicating the drop in the demand related to an alleged ineligible Input Tax Credit (ITC) claim, including interest and penalty. This follows an earlier intimation made in February 2025.
Update on Input Tax Credit Matter
Acutaas Chemicals provides an update on the pending matter related to an order under section 74(9) of the Central Goods and Service Tax Act, 2017. This relates to an initial intimation from February 4, 2025, regarding an order from the Office of the Superintendent, Central Goods and Service Tax, Surat.
Demand Dropped
The company has received a new order dated January 20, 2026, which communicates the drop in the demand along with interest and penalty concerning the claim for certain alleged ineligible Input Tax Credit.
Details of the Resolution
The order from the Additional Commissioner, Central GST & Central Excise, Appeals Commissionerate, Surat, states that the demand for ineligible Input Tax Credit (“ITC”) of Rs. 15.44 lakhs, along with associated interest and an equal amount of penalty initially levied against the company in the reported matter, has been dropped. No further financial or operational impact is expected.
Source: BSE
