Electricity distributor Schneider Electric Infrastructure Ltd announced on Tuesday that its appeal against a tax demand of ₹2.21 crore for the financial year 2017-18 has been rejected. The decision was made by the Office of the Joint Commissioner of Commercial Taxes (Appeals-1) in Bengaluru, which upheld a previous adjudication order and demanded the disputed amount, including interest and penalties.
The total breakdown of the demand includes ₹87.75 lakh in tax, ₹1.24 crore in interest, and ₹8.77 lakh in penalties. The company stated that it had received the order on October 7, 2024, and is now evaluating appropriate legal remedies if necessary.
The grounds for the rejection cited discrepancies related to the company’s turnover and tax payable, including differences between GSTR-3B and GSTR-2A filings, and issues regarding the declaration of exports and input tax credits.
Despite the ruling, Schneider Electric stated that there is no material impact on its financials or operations, indicating that the effect will be limited to the demand specified in the order.
