Bajaj Electricals Limited has informed the Exchange about Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
BAJAJELEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bajaj Electricals has received two GST assessment orders from the Commercial Tax Officer in Chennai Central, Tamil Nadu, both passed under the Tamil Nadu GST Act, 2017. The first order relates to FY 2019-20 and raises a total demand of Rs. 11.20 crore (Rs. 3.66 crore tax + Rs. 3.88 crore interest + Rs. 3.66 crore penalty) on alleged differences in input tax credit (ITC) and short payment of tax. The second order relates to FY 2022-23 and demands Rs. 8.73 crore (Rs. 5.09 crore tax + Rs. 3.13 crore interest + Rs. 0.51 crore penalty) over an alleged excess claim of ITC. Together, the two orders put roughly Rs. 19.93 crore at stake. The management is evaluating legal remedies, including filing an appeal before the appellate authority or a writ petition before the High Court.
The combined potential outflow of about Rs. 19.93 crore is modest relative to the company's scale, but it represents a contingent liability that shareholders should watch. The company's claim of no operational impact may soften near-term stock reaction, though the final outcome of the legal challenge could add to or reduce this exposure.