Tax & Penalty27 Oct 2026, 10:50 pm
Schaeffler India Receives GST Demand Order of ₹13.85 Cr
AI Summary
Schaeffler India Limited has received a GST demand order from the Adjudication Branch (II), CGST & Central Excise, Hqrs, Indore. The order pertains to the GST audit for FY 2020-21 to 2023-24. The authority has disallowed 10% excess Input Tax Credit (ITC) availed at the MP warehouse and levied a penalty of INR 13,85,25,490/- (₹13.85 Crore). The company is in the process of filing an appeal against this order. Schaeffler India stated that there is no material impact on its financials, operations, or other activities.
Key Highlights
- Received GST demand order with a penalty of ₹13.85 Crore.
- Order relates to disallowance of excess Input Tax Credit (ITC).
- GST audit period covers FY 2020-21 to 2023-24.
- Company plans to file an appeal against the order.
- No material financial or operational impact expected.
Price Impact
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