LG Electronics India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

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AI summary

LG Electronics India Limited received a Show Cause Notice (SCN) dated May 26, 2026 from the Joint Commissioner of GST, Corporate Circle-2, Greater Noida, for the financial year 2021-22. The notice has been issued under Section 74 of CGST Act and UP GST Act. The department is demanding Rs. 116.72 Crore, comprising principal tax of Rs. 58.36 Crore and equal penalty. The allegation is that the company claimed excess Input Tax Credit by reconciling data between GSTR-9 Annual Return and GSTR-3B Monthly Returns. The company disputes this, stating the ITC claimed is within GST provisions and there is no financial or operational impact. The company plans to file its reply within one month with supporting evidence.

Likely market impact

The company denies any excess claim and expects no financial impact, but the Rs. 116.72 Crore demand is material. Pending resolution could affect profitability if the demand is upheld.