Thermax Limited has informed the Exchange about Action(s) taken or orders passed
THERMAX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Thermax Limited has informed the exchanges that it received an assessment order from the Joint Commissioner of Central GST (CGST), Pune on March 30, 2026. The order disallows a lower GST rate on certain goods that the tax authority claims were incorrectly classified under the HSN code, covering the four-year period from FY 2019-20 to FY 2022-23. A penalty of Rs 3.14 crore has been levied on the company under this order. Thermax has stated that it will file an appeal against the demand in due course. The original tax demand amount itself is not separately quantified in the filing.
The penalty of Rs 3.14 crore is small relative to Thermax's overall scale, so the direct financial hit is limited. Shareholders should watch for the appeal outcome and any disclosure of the underlying tax demand, which could be materially larger than the penalty itself.