This is to inform you that the company had received a order from the office of Deputy/Assistant commissioner of Central GST and Central Excise, Division V, Vadodara I, Race Course, Vadodara ....
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Panasonic Energy India received a demand notice from the Assistant Commissioner Central GST and Central Excise, Vadodara, dated May 27, 2026. The authority has disallowed Input Tax Credit (ITC) of Rs. 31,06,999 under Section 73(1) of the CGST Act, confirmed interest under Section 50, and imposed a penalty of Rs. 3,30,363 under Section 122(2)(a) of the CGST Act. Additionally, a late fee of Rs. 150 has been demanded for late filing of GSTR-1. The total immediate cash outflow is Rs. 3,30,513 (penalty + late fee), while the ITC disallowance of Rs. 31,06,999 may create additional tax liability if not successfully contested.
The penalty and ITC disallowance represent a financial hit of approximately Rs. 34.4 lakh in total exposure. While the penalty amount is relatively small for a listed company, the disallowed ITC claim and potential interest could pressure near-term earnings if the demand is upheld upon appeal.