Styrenix Performance Materials Limited — Others, 23-10-2024: Action(s) taken or orders passed

Styrenix Performance Materials Limited announced that the Commissioner of Central GST & Central Excise (Appeals) has set aside a previous order and admitted the company's appeal, waiving a penalty of INR 98,11,559 and any interest on the demand of Cess. This ruling is favorable for the company and positively impacts its financial position, as the demand for interest and penalty has been dismissed.