Vedant Fashions Limited has received a favourable Order-in-Appeal concerning a GST audit for FY 2017-18 to FY 2019-20. The Appellate Authority has set aside the demand for interest and penalties aggregating to ₹2,73,471. While a portion of input tax credit was upheld, the company views this outcome as beneficial, with no material adverse impact anticipated on its financial position or operations.
Favourable Appellate Decision on GST Audit
Vedant Fashions Limited has announced a significant update regarding a Goods and Services Tax (GST) matter. Following an Order-in-Original dated November 20, 2025, which arose from a GST audit covering financial years 2017-18, 2018-19, and 2019-20, the company has now received an Order-in-Appeal.
Key Outcomes of the Appeal
The Order-in-Appeal, dated August 28, 2026, passed by the Additional Commissioner of CGST and CEX (Appeals-III), Mumbai, has provided a favourable resolution for the Company. The Appellate Authority has directed the following:
- Upholding the appropriation of Input Tax Credit amounting to ₹1,73,471, which had already been voluntarily reversed and was not disputed.
- Setting aside the demand for interest.
- Setting aside penalties aggregating to ₹2,73,471.
Financial and Operational Impact
The Company views the Order-in-Appeal as favourable, as the demand for interest and penalties totaling ₹2,73,471 has been successfully set aside. Vedant Fashions Limited has stated that there is no material adverse impact expected on its financial position, operations, or other activities due to this outcome.
Source: BSE
