NewsBansal Wire Industries Receives Favorable GST Appeal Order, Tax Liability Slashed to Rs. 44,491/-Bansal Wire Industries Receives Favorable GST Appeal Order, Tax Liability Slashed to Rs. 44,491/-
Bansal Wire Industries received a favorable GST appeal order dated May 18, 2026, from the Additional Commissioner Grade-II Appeal, reducing its tax liability for FY 2023-24 from Rs. 39,87,711/- to Rs. 44,491/-. The balance of Rs. 39,43,220/- was reduced to Nil. The company confirmed no financial, operational, or business impact from the matter.
*this image is generated using AI for illustrative purposes only.
Bansal Wire Industries Limited has received a favorable appeal order in a GST matter for the financial year 2023-24, resulting in a significant reduction of its tax liability. The appeal order, dated May 18, 2026, was received at 12:50 P.M. (IST) from the Additional Commissioner Grade-II Appeal (Appellate Authority). The development was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Background of the GST Matter
The company had earlier, on January 08, 2026, intimated the exchanges about a reduction in tax liability and its intention to file an appeal against a GST assessment order issued by the Joint Commissioner, SGST, Corporate Circle-I, Ghaziabad Zone-I. The original assessment was raised under Section 74 of the CGST/SGST Act, 2017 for the financial year 2023-24. The alleged issues in the matter pertained to E-way bill irregularities, availment of blocked and excess Input Tax Credit (ITC), and non-payment of tax on the sale of RODTEP license.
Key Details of the Appeal Order
The following table summarizes the key particulars of the appeal order as disclosed by the company:
| Parameter: | Details |
|---|---|
| Authority: | Additional Commissioner Grade-II Appeal (Appellate Authority) |
| Date of Receipt: | May 18, 2026 at 12:50 P.M. (IST) |
| Financial Year: | 2023-24 |
| Original Tax Liability: | Rs. 39,87,711/- |
| Amount Paid: | Rs. 44,491/- |
| Balance Amount Reduced: | Rs. 39,43,220/- reduced to Nil |
| Financial Impact: | No financial, operational, or other business impact |
Outcome and Compliance Implications
Pursuant to the favorable appeal order, Bansal Wire Industries has paid Rs. 44,491/- out of the original demand of Rs. 39,87,711/-. The balance amount of Rs. 39,43,220/- has been reduced to Nil. The company stated that the order reaffirms its strong compliance framework and that the matter has no financial, operational, or other business impact on the company.
The disclosure was made by Sumit Gupta, Company Secretary and Compliance Officer of Bansal Wire Industries, and a copy of the intimation has been made available on the company's website at www.bansalwire.com .
Historical Stock Returns for Bansal Wire Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.02% | +5.51% | +2.97% | -2.36% | -21.76% | -10.09% |
Could the GST department escalate this matter to a higher tribunal or court, and what would be the potential timeline and financial implications for Bansal Wire Industries if they do?
How might this favorable GST ruling influence Bansal Wire Industries' approach to Input Tax Credit claims and E-way bill compliance practices going forward?
Are there other pending GST or tax disputes for Bansal Wire Industries across different financial years that could pose material financial risks to the company?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
