Bajaj Electricals Faces Rs148 Mn GST Demand in Punjab

22 Feb 2025 CW Team

Bajaj Electricals Ltd has received a Rs 148 million GST demand from Punjab’s tax authorities over an alleged input tax credit (ITC) mismatch for FY 2020-21. The demand stems from an assessment order issued by the Assistant Commissioner, Mohali, Punjab, citing liabilities under the reverse charge mechanism.

Breakdown of Tax Demand The total demand of Rs 148 million comprises:

Rs74 million in tax liability Rs 58 million as interest Rs 75 lakh as a general penalty Company’s Response & Legal Stand Bajaj Electricals has stated that it is evaluating legal options, including filing an appeal before the relevant appellate authority. The company has also reassured stakeholders that this development will not impact its financial operations or other business activities.

GST Compliance Challenges for Corporates This case highlights the ongoing complexities businesses face in GST compliance, particularly in managing input tax credits and reverse charge liabilities. Many companies continue to navigate regulatory challenges as tax authorities tighten scrutiny on tax claims and mismatches.

Bajaj Electricals remains committed to addressing the issue through legal channels, ensuring minimal disruption to its business operations.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..