Crompton Greaves Consumer Electricals has received an order from the Assistant Commissioner, Baddi, Himachal Pradesh, relating to the period from April 2021 to March 2022. The order imposes a demand of INR 1,47,47,140, including tax, interest, and penalty. The company plans to appeal the order and anticipates a favourable outcome.
Order Details
Crompton Greaves Consumer Electricals Limited has received an order from the office of the Assistant Commissioner, Baddi, Himachal Pradesh. The order relates to the period covering April 2021 to March 2022.
Financial Impact
The order imposes a demand of INR 1,47,47,140, which includes Tax of INR 83,35,439, Interest of INR 55,78,135, and a Penalty of INR 8,33,546.
Company’s Response
Based on available information and consultant advice, Crompton intends to appeal the order before the Commissioner (Appeals). The company reasonably expects favourable orders from the appellant authorities. The order relates to an alleged excess Input Tax Credit (ITC) claimed in GSTR 3B compared to GSTR 2A for the specified period.
Material Impact
The company states that there is no material impact on its financials, operations, or other activities related to this order.
Source: BSE
