ABB India Limited — Important, 31-01-2025: General Updates

ABB India Limited has received a penalty order of Rs. 10.79 crore from the Office of the Principal Commissioner, Bihar, under the BGST/CGST/IGST Act, concerning issues related to the taxability of commercial credit notes and the utilization of input tax from non-compliant suppliers. The company plans to appeal this order and is optimistic about a favorable outcome, stating that it does not anticipate a material impact on its operations. Given the significant amount involved, this situation warrants close monitoring, but the current outlook remains positive as ABB India remains steadfast in its appeal process.