With reference to the captioned subject, we would like to inform you that the Company has received a demand order from the Office of Assistant Commissioner of State Tax-cum-Proper Officer, S.A.S. Nagar, Excise & Taxation Bhavan, Sector-69, S.A.S. Nagar (Mohali), Punjab imposing a penalty of Rs. 9,55,300/- under section 73 of PGST/CGST Act, 2017 in relation to the ITC claimed on purchases from cancelled dealers, Ineligible ITC claimed u/s 17(5) & credit wrongly availed due to wrong place of supply mentioned by supplier during Financial Year 2021-22. Based on the Company s assessment, an appeal will be filed, and the Company is hopeful of a favourable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company. The Order dated 30th December 2025 has been received by the Company on 30th December 2025 at 11:02 P.M. The details of the above Order, as required under Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 is enclosed as Annexure A.You are requested to kindly take note of the above.
SWARAJENG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Swaraj Engines has received a penalty order of Rs. 9,55,300 from the Punjab State Tax office in Mohali under Section 73 of the PGST/CGST Act, 2017. The penalty relates to GST input tax credit (ITC) issues for FY 2021-22, specifically ITC claimed from cancelled dealers, ineligible ITC under section 17(5), and credit wrongly availed due to incorrect place of supply mentioned by suppliers. The order was dated and received on 30th December 2025. The company plans to file an appeal and is confident of a favourable outcome at the appellate level, stating it does not expect any material financial impact.
The penalty amount is small (around Rs. 9.55 lakhs) and the company expects to win on appeal, so the financial impact on shareholders is likely negligible. This is a routine tax compliance matter and should not affect the stock price materially.