Schneider Electric President Systems Wins Tax Appeal, ₹2.38 Lakh Demand Set Aside

Schneider Electric President Systems Ltd has received a favorable Order-in-Appeal from the Appellant Authority, quashing a previous order that imposed a tax demand of ₹1,19,167, along with an equal amount for interest and penalty. The original order pertained to alleged non-payment of GST under the Reverse Charge Mechanism (RCM) on ocean freight for the period July 2017 to March 2020. The Appellate Authority has set aside and annulled the entire Order-in-Original, resulting in the dropping of proceedings. This favorable outcome significantly impacts the company by removing a potential financial liability of ₹2,38,334 (tax, interest, and penalty).