Gravita India Limited — Others, 04-01-2025: Action(s) taken or orders passed

Gravita India Ltd. has announced a board meeting to discuss an order from the Central Goods & Services Tax authority, which imposes a GST liability of ₹1.61 crore (cr) and a penalty of ₹1.61 cr due to issues from FY 2017-18 and 2018-19. Additionally, its subsidiary, Gravita Metal Inc., faces a GST of ₹1.84 cr with a similar penalty. The company plans to appeal the order but does not anticipate any material impact on its financial health or operations. This development could raise concerns among investors, but the company’s proactive approach suggests a neutral impact on investor sentiment.