Torrent Power Limited has informed the Exchange about Demand order from the Office of the Additional Commissioner, Agra, Lucknow
TORNTPOWER · price
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Torrent Power has received a demand order dated March 27, 2026, from the Office of the Additional Commissioner, CGST & Excise, Agra, seeking ₹94.71 Crs in CGST and SGST (combined) for the period April 2019 to September 2024. The demand relates to GST on rent from immovable properties and incidental/ancillary services, raised under Section 74 and 74A of the CGST Act, 2017. An equivalent penalty of ₹94.71 Crs has also been imposed, taking the total demand to about ₹189.42 Crs. The company has stated it will challenge the order by filing an appeal. Management has indicated that there is no material financial impact from this order at this stage.
The total demand of ~₹189 Cr is significant on paper, but the company will appeal and views it as having no material financial impact, so the immediate hit to the stock may be limited; however, the outcome of the appeal remains a key risk for shareholders.