Schneider Electric Infrastructure: Penalty Reduced by ₹83 Lakhs

Schneider Electric Infrastructure Ltd has received a Rectification Order from the Joint Commissioner, Vadodara, CBIC. This order significantly reduces the penalty amount by INR 8,328,696, while the tax amount remains unchanged from the previous Appeal Order. The action pertains to the alleged wrong availment of Input Tax Credit for the financial year 2019-20. The company states there is no material impact on its financials, operations, or routine business activities, with the impact limited to the quantifiable demand in the Rectification Order.