ACC has received an order under Section 74 of the CGST/KSGST Act, 2017, amounting to ₹59,80,58,854, which includes interest and penalties. The order was issued by the Joint Commissioner Taxpayer Services Circle in Thalassery, Kannur, Kerala. ACC plans to contest the order before the appropriate authorities within the prescribed timeline.
The order, received on April 10, 2026, alleges several contraventions, including excess availment of Input Tax Credit (ITC) in GSTR 3B compared to GSTR 2A, irregular deduction of post-supply discounts, availment of blocked ITC under Section 17(5) of the CGST Act, 2017, and non-reversal of ITC on goods lost where insurance compensation was received.
Despite the significant amount involved, ACC has stated that it does not foresee any material impact on its financial, operational, or other activities as a result of this order. The company is taking appropriate steps to appeal against the demand imposed by the order.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).