Clarification15 Oct 2026, 08:10 pm
HEG Advanced Materials: GST proceedings for FY21 dropped
AI Summary
HEG Advanced Materials Ltd (formerly HEG Limited) has announced that the GST authority has dropped proceedings initiated under Section 74 of the MPGST Act 2017 read with Section 74 of the CGST Act 2017 for the tax period FY 2020-21. Previously, a show-cause notice had proposed recovery of IGST refunds along with a penalty of ₹282.34 crore. The authority dropped these proceedings based on the information available on record. This development has no quantifiable impact on the company's financial or operational activities.
Key Highlights
- GST proceedings for FY 2020-21 have been dropped by the authority.
- Previously, a penalty of ₹282.34 crore was proposed.
- The proceedings were dropped based on available information.
- No financial or operational impact is anticipated.
- This relates to a composite scheme of arrangement.
Price Impact
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