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Ceat has received Order-in-Appeal passed by The Commissioner (Appeals Thane) involving a demand of Rs. 107 Crore for the matter, considering
supply of Tube and Flap along with Tyre as composite supply under CGST Act. As per the Appeal order, matter has been adjudicated in favor of the Company,
stating it as interpretational matter and that the proceedings under Section 74 of CGST Act are not sustainable.
At 11.10 am, Ceat was trading at Rs. 3,555.15, down by 0.71%, with a volume of 1358 shares on the BSE.
Strong sectoral buying helps markets end higher, breaking a two-day losing streak
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