Triveni Engineering & Industries Limited — Important, 07-02-2025: General Updates

A penalty of ₹39.98 crore has been imposed on Triveni Engineering & Industries Ltd. by the Assistant Commissioner of Commercial Taxes in Mysuru, Karnataka. This relates to the financial year 2017-18, primarily for disallowing GST credits on invoices where the supplier did not deposit GST with the government. The company plans to appeal this decision before the Commissioner (Appeals). Notably, the company asserts that this penalty will not have a quantifiable impact on its financial or operational activities. Investors should monitor this development closely, as the outcome of the appeal could influence future liability and operational stability.