Bajaj Electricals faces Rs 5.75 crore GST demand for 2019-20 | Business Upturn

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Bajaj Electricals has been issued an Assessment Order by the GST Authority, raising a gross demand of ₹5.75 crore. This demand includes a penalty of ₹1.88 crore, related to an alleged mismatch of Input Tax Credit for the financial year 2019-20 in Madhya Pradesh.

The company is currently evaluating legal options, including the possibility of filing an appeal against the order. The financial impact, if the order materialises, would be limited to the demand and penalty specified. Bajaj Electricals has clarified that there will be no effect on its operational, financial, or other activities due to this assessment.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

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TOPICS: Bajaj Electricals GST Authority Madhya Pradesh