Legal31 March 2026 at 04:57 am
Thermax Ltd Faces Rs 3.14 Cr Penalty from Joint Commissioner CGST, Pune
AI Summary
Thermax Ltd has informed the Stock Exchanges about the Assessment order passed by the Joint Commissioner CGST, Pune, Maharashtra. The order, received on March 30, 2026, imposes a penalty of Rs 3.14 Cr on the company. The penalty is due to the disallowance of lower GST rate for goods incorrectly classified under HSN for the period 2019-20 to 2022-23. The company plans to file an appeal challenging the demand.
Key Highlights
- Thermax Ltd received an assessment order from the Joint Commissioner CGST, Pune, Maharashtra on March 30, 2026.
- The order imposes a penalty of Rs 3.14 Cr on the company.
- The penalty is due to the disallowance of lower GST rate for goods incorrectly classified under HSN for the period 2019-20 to 2022-23.
- Thermax Ltd plans to file an appeal challenging the demand.
THERMAXHeavy Electrical Equipment
THERMAX LTD.Price Impact