Bajaj Electricals has successfully had its tax demand reduced from ₹1.48 crore to ₹6.09 lakh, as per an Appeal Order received on December 6, 2024, in ‘Form APL-04’.
This decision was made under Section 107(11) of the Odisha Goods and Services Tax Act, 2017, and the Central Goods and Services Tax Act, 2017, concerning the financial year 2017–18.
The revised demand includes an alleged tax liability of ₹3.07 lakh, alleged interest of ₹2.67 lakh, and an alleged penalty of ₹0.35 lakh.
The company is contemplating participation in the Government of India’s Amnesty Scheme, which allows for full payment of the tax component while waiving the interest and penalty amounts. Bajaj Electricals indicated in an exchange filing, “We also wish to inform you that the management of the Company is considering availing of the Government of India’s Amnesty Scheme.”
This disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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