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Bharat Heavy Electricals Limited ( (IN:BHEL) ) has provided an announcement.
Bharat Heavy Electricals Limited (BHEL) has disclosed that it has received an adjudication order from the Assistant Commissioner (ST), Commercial Tax Department, Telangana, relating to a Goods and Services Tax (GST) dispute for the financial year 2021-22. The order, passed under the CGST and TGST Acts, pertains to an earlier show cause notice that had sought a tax demand of Rs 184.55 crore.
According to the company, the adjudicating authority has ruled largely in BHEL’s favour, dropping a demand of Rs 183.77 crore along with associated interest and penalty, and upholding only a balance demand of Rs 1.43 crore linked to exports made beyond the prescribed time period. BHEL has stated that it considers the case strong on merits, noting that the exports in question have been completed, and it plans to appeal the residual demand—comprising tax of Rs 0.78 crore, interest of Rs 0.58 crore and penalty of Rs 0.07 crore—before the appellate authorities, indicating no material financial impact expected from the dispute at this stage.
More about Bharat Heavy Electricals Limited
Bharat Heavy Electricals Limited (BHEL) is a leading Indian public sector engineering and manufacturing company operating primarily in the power and industrial equipment sector. It supplies heavy electrical equipment and solutions for power generation, transmission, transportation and other core industries, serving utilities and industrial customers in India and abroad.
Average Trading Volume: 749,160
Technical Sentiment Signal: Strong Buy
Current Market Cap: 1001.1B INR
Find detailed analytics on BHEL stock on TipRanks’ Stock Analysis page.