GST demand reduced to about 108 Cr from 210 Cr; company to appeal
BGRENERGY · price
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Tamil Nadu GST authorities, following a Madras High Court remand, issued a fresh order on BGR Energy's FY 2018-19 GST assessment. The total demand was reduced from about 210.14 Cr to about 107.90 Cr, with the earlier order sent back for a fresh hearing which helped cut the demand by roughly half. The company states no material financial impact at this stage and plans to appeal against the order.
Partly favorable as demand was nearly halved, but around 108 Cr liability still looms. Appeal outcome and any provision remain key risks for shareholders.