Bajaj Electricals has received an Appeal Order from the Appellate Authority under Section 107 of the CGST Act 2017, upholding a total demand of Rs 80.75 lakh. This demand includes a general penalty of Rs 34.42 lakh, initially raised by the GST Authority for delayed reporting of sales invoices for FY 2017-18 and FY 2018-19.
The company had previously filed an appeal against this demand with the Office of the Commissioner (Appeals), Central Excise, Customs & Central Goods and Services Tax, Jaipur. However, the appeal for FY 2017-18 was withdrawn by Bajaj Electricals, and an application was submitted under the amnesty scheme for waiver of interest and penalty. Despite this, the Appellate Authority issued the Appeal Order without considering the withdrawal application.
Bajaj Electricals is currently evaluating its legal options, which may include filing an appeal before the appropriate appellate tribunal or a writ petition before the Hon’ble High Court. The financial impact of the Appeal Order, if enforced, would be limited to the demand and penalty levied, with no effect on the company’s operational or financial activities.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).