The company has received the rectification order under Section 161 of TNGST Act 2017
BGRENERGY · price
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BGR Energy Systems has received a Rectification Order dated 29th May 2026 from the Assistant Commissioner (ST), Ponneri Assessment Circle, under Section 161 of the TNGST Act, 2017. The order pertains to assessment year 2018-19 and relates to an earlier remanded order from 3rd February 2026. Following the rectification, the total tax demand including interest and penalty under CGST and SGST has been set at Rs. 94,29,93,514 (approximately Rs. 94.3 crore). The discrepancies arose from a GST audit covering tax liability on advance received and trade payables. The company states there is no material financial impact at this stage and it plans to file an appeal against the order.
The Rs. 94.3 crore tax demand is material and will require cash outflow if the appeal fails. The company has not admitted the demand and is contesting it, limiting immediate share price pressure, but investors should monitor the appeal outcome.