Bajaj Electricals Faces Rs148 Mn GST Demand in Punjab
POWER & RENEWABLE ENERGY

Bajaj Electricals Faces Rs148 Mn GST Demand in Punjab

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.

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.

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?