Schneider Electric Infrastructure Limited — Others, 30-11-2024: Action(s) initiated or orders passed

Schneider Electric Infrastructure Limited has received a Show Cause Notice regarding an alleged excess availment of Input Tax Credit and/or tax not paid for the financial year 2020-21. The notice demands a total payment of ₹97.99 million (Cr 0.98) in taxes, interest, and penalties, broken down into specific categories: IGST (Cr 6.18), CGST (Cr 1.81), and SGST (Cr 1.81). The company is currently evaluating legal options to address this notice. While there’s no material impact expected on overall financials or operations, this development may prompt a cautious sentiment among investors due to potential liabilities and future cash flow considerations.