Hitachi Energy India Limited — Others, 28-02-2025: Action(s) taken or orders passed

Hitachi Energy India Limited has disclosed receipt of an order imposing a penalty of ₹20.67 lakh related to a GST assessment for FY 2020-21. The order was issued by the Deputy Commissioner of the State Tax Authority, citing discrepancies in turnover calculations based on TDS/TCS as reflected in GSTR-7 versus GSTR-1. Despite this, the company does not expect any material impact on its financial health or operations and plans to appeal the penalty, viewing it as arbitrary and unjustified. This proactive response may convey a positive outlook to investors, illustrating the company's commitment to safeguarding its interests.