HEG Limited has informed the Exchange about Action(s) taken or orders passed
HEG · price
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Awaiting price reaction for this filing.
HEG Limited has informed exchanges that a GST show cause notice received on July 1, 2025, has been dropped by the Deputy Commissioner (SGST), Mandideep Circle, Bhopal Division-2. The notice had proposed recovery of Rs. 282.34 Crores in IGST refunds along with penalty for the tax period April 2018 to March 2019. The proceedings under Section 74 of the MPGST Act 2017 and CGST Act 2017 were dropped on July 30, 2025, based on information available on record. The company stated there is no financial or operational impact from this development.
Positive for shareholders — a potential tax liability of Rs. 282.34 Crores has been cleared, removing a significant overhang on the stock and reducing uncertainty around the company's financial position.