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 Joint Commissioner, CGST & CE, Vadodara-I demanding recovery of an allegedly erroneously sanctioned export refund for the period October 2021 to June 2022. The total tax demand is Rs. 17.88 crore with an additional penalty of Rs. 1.79 crore, together amounting to about Rs. 19.66 crore. The issues cited are wrong refund calculation method and mismatch in purchase invoice details in Form GSTR-2A. The company received the order on August 7, 2025. The company has stated that the demand is arbitrary, unjustified and unsustainable in law, and plans to file an appeal before the Appellate Authority within the permitted time.
This is a tax-related regulatory order and not a market or securities regulator action; the company is contesting it, so the financial impact of around Rs. 19.66 crore is not confirmed and will depend on the appeal outcome. Shareholders should monitor the appeal progress, but near-term stock impact is likely limited unless the demand crystallises into an actual payout.