Bajaj Electricals Limited — Important, 25-02-2025: General Updates

Bajaj Electricals Limited has received various assessment orders from regulatory authorities related to the financial year 2020-21, highlighting some discrepancies in Goods and Services Tax (GST) filings.

1. From the Office of the Commercial Tax Officer in Chennai, the company faces a minimal demand of ₹3,700 due to a shortfall in GST liability reporting, which it has opted to pay without contesting, resulting in no impact on overall financial operations.

2. A more significant demand of ₹11,51,105, including a penalty of ₹1,68,288, has been issued by the CGST & Central Excise Division in Mumbai for a GST input mismatch. The company is currently assessing legal options and plans to appeal this order.

3. Lastly, the Commercial Tax Department in Bihar has raised a substantial demand of ₹1,39,36,073, with a penalty of ₹7,80,521, for disallowed GST input reversals. The company is also considering its legal stance on this matter.

Overall, while these issues have been flagged, they presently do not pose a significant threat to the company's financial health. Shareholders should monitor this situation closely.