LG Electronics India Wins GST Order, ₹116.72 Cr Demand Dropped

LG Electronics India Ltd has received a favorable order from the Joint Commissioner GST, Corporate Circle-2, Greater Noida. The order pertains to a show cause notice issued under Section 74 of the CGST Act, 2017, for FY 2021-22, alleging excess Input Tax Credit availment. The GST Authority has dropped the proposed demand of ₹116.72 Crore, which included principal tax and penalty, deciding the matter in favor of the company. This outcome has no material financial, operational, or other impact on LG Electronics India.