Date: September 09, 2026
Regulatory & Legal Update
This is an update to the company's previous intimation dated December 01, 2025, regarding a GST Order-in-Original dated November 20, 2025.
The company has received an Order-in-Appeal dated August 28, 2026, from the Additional Commissioner, Office of the Commissioner of CGST and CEX (Appeals-III), Mumbai. The order was received via email on September 08, 2026.
The appeal was filed by the company against an Order-in-Original that was originally served on Manyavar Creations Private Limited (which has since been amalgamated with Vedant Fashions Limited). The dispute arose from a GST audit covering the financial years 2017-18, 2018-19, and 2019-20.
Outcome of the Order-in-Appeal
The Appellate Authority disposed of the appeal with the following directions:
- Upheld the appropriation of Input Tax Credit (ITC) amounting to ₹1,73,471. This amount had already been voluntarily reversed by the company and was not disputed in the appeal.
- Set aside the demand for interest.
- Set aside penalties aggregating to ₹2,73,471.
Financial Impact
The company has quantified the impact of this favourable order. The demand for interest and penalties aggregating to ₹2,73,471 has been set aside. The company states that there is no material adverse impact on its financial position, operations, or other activities.