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An update from BGR Energy Systems Limited ( (IN:BGRENERGY) ) is now available.
BGR Energy Systems Limited has disclosed that it received an Order-in-Appeal from the Commissioner (Appeals), Central Goods & Service Tax and Central Excise, Jodhpur, relating to a dispute over alleged wrongful availment of input tax credit under the CGST Act for the period July 2017 to March 2020. The order involves a contested input tax credit of about Rs 1.69 crore and interest of around Rs 3.64 lakh stemming from a prior GST audit and original order by the Joint Commissioner, CGST, Udaipur; the company is currently reviewing the appellate order and plans to challenge it further, indicating a continuing tax litigation that could have compliance and financial implications but with no quantified operational impact disclosed yet.
More about BGR Energy Systems Limited
BGR Energy Systems Limited is an India-based engineering company operating in the power and infrastructure sectors, engaged in supplying equipment, engineering, procurement and construction (EPC) services and related solutions for large industrial and utility projects.
Average Trading Volume: 37,509
Technical Sentiment Signal: Buy
Current Market Cap: 23.54B INR
For detailed information about BGRENERGY stock, go to TipRanks’ Stock Analysis page.