Vedant Fashions Limited (Manyavar) has received a favorable order dated October 15, 2025, from the Office of the Additional Commissioner (Appeal), Kolkata, regarding Input Tax Credit (ITC). The order pertains to proceedings initiated for the tax period 2017-18. The proceedings have been concluded and the entire demand raised in the impugned order has been dropped, resulting in a NIL demand. As the order is in the company’s favor, there is no financial impact.
Favorable ITC Order
Manyavar has received an order dated October 15, 2025. The details of the order are as follows:
Order Details
The authority is the Office of the Additional Commissioner (Appeal), Kolkata Appeal-I, CGST & CX, Kolkata.
The nature of action taken was an order in Form GST APL-04 for dropping proceedings under Section 107 of the CGST Act 2017. This order was received by email on October 15, 2025, around 17:45 (IST).
Initially, an order was issued to the Company for the tax period 2017–18 under Section 73(1) of the CGST Act, 2017, alleging excess availment of Input Tax Credit (ITC) under the reverse charge mechanism (RCM) and import of services. The Company responded with a detailed reply and participated in physical hearings.
Resolution and Impact
Based on the submissions and discussions, the proceedings have been concluded. The entire demand raised in the impugned order has been dropped vide Order dated October 10, 2025, resulting in a NIL demand. As the order is in favor of the Company, there is no financial, operational, or other activity impact.
Source: BSE
