Torrent Power receives GST refund order; interest & penalty ₹6.47 Cr

Torrent Power Ltd has received an order from the Joint Commissioner, CGST Ahmedabad South, pertaining to a conditional refund of GST paid on Ocean Freight. The order, received on November 05, 2026, involves a demand for interest of ₹4.54 Crores and a penalty of ₹1.93 Crores. The company believes the interest and penalty should not arise, as they acted per the Hon'ble High Court's directions regarding the refund which was transferred to the consumer welfare fund. Torrent Power intends to challenge the order and expects a favorable outcome, assessing no material financial impact.