BGR Energy Systems Limited has informed the Exchange about that the company has received rectification order under Section 161 of TNGST Act 2017.
BGRENERGY · price
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BGR Energy Systems has received a Rectification Order from the Assistant Commissioner (ST), Ponneri Assessment Circle, under the Tamil Nadu GST Act 2017. The order relates to Assessment Year 2018-19 and modifies an earlier remanded order from February 2026. The total demand has been revised to Rs. 94,29,93,514 (approximately Rs. 94.3 crore), including tax, interest and penalty under CGST and SGST. The demand arises from GST audit discrepancies for FY 2018-19, specifically regarding tax liability on advance received and trade payables. The company states there is no material financial impact at this stage and plans to file an appeal against the order.
While the Rs. 94.3 crore demand is significant, the company claims no material financial impact and is contesting the order through an appeal. This indicates a potential cash outflow if the appeal fails, though the matter remains pending and may be resolved favourably.