Crompton Greaves Faces GST Demand of Rs 4.50 Crore Over Alleged ITC Mismatch:

Crompton Greaves Faces GST Demand of Rs 4.50 Crore Over Alleged ITC Mismatch  Crompton Greaves Consumer Electricals has informed the stock exchanges that it has recently received a GST order levying a demand of Rs 4.50 crore for the financial year 2019-2020. The demand is related to the alleged excess claim of Input Tax Credit (ITC) by the company.

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Background of the Case The GST department has claimed that Crompton Greaves has claimed extra ITC in GSTR-3B as compared to GSTR-2A for the financial year 2019-2020. As a result, the department has raised a demand of Rs 4,50,41,295, which includes a tax of Rs 1,39,98,461, interest of Rs 1,70,44,373, and a penalty of Rs 1,39,98,461. Key Details of Order

Particulars	Details
Issuing Authority	Assistant Commissioner of Central Tax, Vijayawada
Section	Section 74 of GST Act, 2017
Date of Receipt	March 23, 2026
Tax	Rs 1,39,98,461
Interest	Rs 1,70,44,373
Penalty	Rs 1,39,98,461
Total Demand	Rs 4,50,41,295

Company's Next Step Crompton Greaves said that based on the merits of the matter, prevailing law and legal advice, it has decided to file an appeal before the Commissioner (Appeals). The company expressed its confidence that it hopes for a favourable order from the lower authority.

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Financial Impact The company reported a potential impact of Rs 4,50,41,295. However, it stated that there is no material impact on its financials, operations or other activities. Company's Disclosure Compliance The above information was disclosed by Crompton Greaves on March 23, 2026, to BSE and NSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.