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India Glycols: CGST Appeal Allowed, ₹1,92,12,510 Demand Dropped
India Glycols Limited received a favorable order from the Commissioner, CGST (Appeals), Noida, setting aside the earlier demand order issued by the Joint Commissioner, CGST, Noida. The original order had disallowed Transitional Input Tax Credit (ITC) and demanded ₹1,92,12,510 along with equivalent penalty and applicable interest. With the appeal being allowed, the demand for tax, penalty, and interest now stands dropped, resulting in no financial impact on the company.
Key Highlights
Demand of ₹1,92,12,510 for disallowed Transitional Input Tax Credit (ITC) dropped.
Order dated 28th January 2025 passed by Joint Commissioner, CGST, Noida, was set aside.
Appeal allowed by Commissioner, CGST (Appeals), Noida on 26th November 2025.
Order received by the company on 4th December, 2025.
👀 What to Watch
This is a positive development as it removes a contingent liability of ₹1,92,12,510. Investors can view this as a reduction in potential financial risk for India Glycols.
