Schneider Electric Infra Receives GST Order, Total Demand ₹2.4 Cr

Schneider Electric Infrastructure Ltd has received an Order-in-Original from GST authorities concerning FY 2022-23. The order includes demands for IGST totaling INR 2,37,99,374 for alleged non-payment on export of services, INR 1,06,37,269 for ineligible input tax credit, INR 3,79,519 for GST on SEZ supplies, and INR 3,63,915 for non-reversal of ITC. Interest and a penalty of INR 35,18,008 have also been imposed. The company is evaluating the order and appropriate legal remedies. Schneider Electric states there is no material impact on its financials or operations beyond the order's liability.