On 16 October 2017
Rishab Special Yarns announced that the Company has received the decision of Hon'ble Tribunal Excise Customs and Service Tax (CESTAT) on the demand of Rs 41.67 lakh and an equal amount of penalty (total Rs 83.36 lakh) raised by Excise department. The CESTAT has set aside the impugned order of Excise department and the appeal is allowed, with consequential relief. Consequently, there is no contingent liability and the liability of interest on late payment will be adjusted from the amount of Rs 801632 already deposited.Powered by Capital Market - Live News
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