Bajaj Electricals Wins GST Appeal, Penalty Reduced to ₹1.28 Lakh

Bajaj Electricals Ltd has received a favorable order from the Commissioner (Appeals), Central Goods and Service Tax & Central Excise, Ranchi. The appellate authority annulled the earlier assessment order which had imposed a penalty of ₹32.50 lakh and interest of ₹8.46 lakh for FY 2017-18. The penalty has been waived entirely, and the interest has been reduced to ₹1.28 lakh, which has already been paid. This order has no other impact on the company's operations or financials.