Bajaj Electricals Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended'.
BAJAJELEC · price
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Awaiting price reaction for this filing.
Bajaj Electricals has provided an update on an old GST matter related to FY 2019-20, where it was originally asked to pay Rs. 26.24 lakh (including a Rs. 1.32 lakh penalty) for excess input tax credit claims and short GST payments. The company applied under the Government of India's Amnesty Scheme, agreeing to pay the core tax of Rs. 12.91 lakh in full to get interest and penalty waived. On May 3, 2025, the GST authority passed an order under Section 128A of the CGST Act formally waiving the interest and penalty, and the company has already paid the Rs. 12.91 lakh. The company noted a small error in the penalty figure mentioned in the new order and will ask the tax office to correct it.
This is a positive and routine closure of an old tax dispute with no material impact on the company's finances or operations. The final outgo is limited to Rs. 12.91 lakh, and the waiver of interest and penalty saves the company additional costs. Shareholders are unlikely to see any meaningful stock price reaction from this update.