Bajaj Electricals Limited has informed the Exchange about 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 received an order dated June 13, 2025, from the Karnataka GST authorities resolving a tax dispute related to FY 2018-19. Back in March 2024, the authorities had alleged excess input tax credit (ITC) claims and imposed a total demand of Rs. 25.90 lakh, which included a Rs. 1.83 lakh penalty. The company has already paid the tax component of Rs. 13.18 lakh in full and applied under the Government of India's Amnesty Scheme for waiver of interest and penalty. The latest order under Section 128A of the CGST Act, 2017 has formally waived the remaining interest and penalty. The company has clarified that this resolution has no impact on its financial operations or any other activities.
A positive outcome for shareholders, as the company avoids further interest and penalty outgo on a small Rs. 25.90 lakh demand. The matter is effectively closed with no financial impact, removing a minor overhang on the stock.