Kansai Nerolac Paints Limited — Others, 24-02-2025: Action(s) taken or orders passed

Kansai Nerolac Paints has disclosed that an order was issued by the Additional Commissioner of CGST in Kanpur, imposing a tax of ₹2.93 crore and a penalty of ₹0.29 crore related to disallowed Input Tax Credit (ITC) claimed during FY 2020-21. The company maintains that it has sufficient records to support its ITC claim and plans to appeal this order. Importantly, management asserts that this development will not materially affect the company's financials or operations. Investors may view this situation with a neutral outlook, considering the company's proactive stance in addressing the issue.