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 received an adverse order from the Joint Commissioner of Commercial Taxes (Appeals-1), Bengaluru, on April 22, 2025, in connection with a GST dispute originally flagged in August 2024. The appeal order reiterates a total demand of Rs. 429.44 lakh for FY 2019-20, comprising Rs. 194.84 lakh in alleged tax, Rs. 215.12 lakh in interest, and Rs. 19.48 lakh in penalty related to excess input tax credit claims and short GST payments. The company has stated it was not given a sufficient opportunity to be heard and is evaluating legal options, including filing an appeal before the GST Tribunal or a writ petition in the High Court. The company has clarified there is no impact on its financial operations or other activities from this matter.
The financial impact is limited, with the disputed amount of Rs. 4.29 crore being relatively small for Bajaj Electricals. The development is negative as it represents an adverse ruling, but the company's intention to contest further and absence of operational impact should limit material damage to shareholder value.