HEG Limited has informed the Exchange about General Updates
HEG · price
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Awaiting price reaction for this filing.
HEG Limited has informed the exchanges that a show cause notice from the GST authority has been dropped. The notice, issued on July 1, 2025, by the Deputy Commissioner (SGST) in Mandideep, Bhopal, had proposed recovery of IGST refunds along with a penalty of Rs. 282.34 Crores for the tax period April 2018 to March 2019. The proceedings under Section 74 of the MPGST and CGST Acts have now been dropped on the basis of information available on record. The company has confirmed there is no financial or operational impact from this development, as the potential liability has been fully removed.
Positive for shareholders — a potential Rs. 282.34 Crore tax liability has been fully eliminated with no financial cost to the company. This removes a significant overhang and is likely to be viewed favorably by the market.