CEAT Limited — Others, 07-03-2025: Action(s) initiated or orders passed

CEAT Limited has announced a board meeting to discuss orders received from tax authorities in Odisha and Uttar Pradesh regarding the Goods and Services Tax for the financial year 2020-21. The company faces a demand of ₹3.06 Crores, plus a penalty of ₹30.60 Lakhs from Odisha, and ₹1.38 Crores, with a penalty of ₹13.83 Lakhs from Uttar Pradesh, both due to disallowed Input Tax Credits. The company believes there is no material impact on its financials and is in the process of appealing the orders. This situation presents a potential risk, but the lack of significant financial impact may reassure investors long-term.