Hitachi Energy India Limited has informed the Exchange about Action(s) taken or orders passed
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Hitachi Energy India has received an order from the Assistant Commissioner (ST), Nandambakkam Assessment Circle, Chennai, dated December 29, 2025, following a GST audit for FY 2021-22. The order alleges excess ITC reversal in Form GSTR-09, ITC claims from cancelled dealers/return defaulters, and interest on ITC reversed under Rule 37. Total demand is Rs. 2,50,949, comprising Rs. 69,046 in tax, Rs. 1,61,903 in interest, and Rs. 20,000 in penalty. The company has stated the demand is arbitrary and unsustainable, and plans to file an appeal with the Appellate Authority.
The financial impact is negligible (under Rs. 2.5 lakh) relative to the company's size, and the company intends to contest the order. Unlikely to have any material effect on shareholders or stock price.