Bharat Heavy Electricals Limited — Important, 13-03-2025: General Updates

Bharat Heavy Electricals Limited (BHEL) has received orders from GST authorities related to demands for the fiscal year 2020-21 in Rajasthan. The first order from the Joint Commissioner involves an excess ITC claim, amounting to ₹1.23 crore (cr), plus interest of ₹0.99 cr and a penalty of ₹0.12 cr. The second order from the Office of the Deputy Commissioner pertains to non-reversal of ITC and ineligible ITC claims, totaling ₹0.18 cr, with interest of ₹0.14 cr and a penalty of ₹0.01 cr.

Despite these demands, BHEL reports no material impact on financials or operations, as they plan to appeal and seek rectification of the orders. Investors should watch closely as the ongoing appeal process could influence the company’s financial position, but current implications appear manageable.