Company has received an Order on February 3, 2024, from The Principal Commissioner, CGST & CX, Kolkata North Commissionerate bearing a demand of excise duty amounting to 1,59,31, 470/- (Rupees One crore Fifty Nine Lakhs, Thirty One Thousand, Four Hundred and Seventy Only) plus interest at applicable rate and a penalty of Rs. 8,95,76,460/- (Rupees Eight Crore Ninety five Lakhs Seventy Six Thousand Four Hundred Sixty Only). The said demand pertains to inappropriate availment of CENVAT credit during the Financial Year 2016-17.
Company is in the process of preferring an appeal against the said Order.
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