Tax & Penalty21 May 2026, 01:09 pm
Transrail Lighting Faces ₹51 Cr Tax, Penalty Order
AI Summary
Transrail Lighting Ltd has received an order from the Deputy Commissioner Appeals, Chennai (Central), confirming a demand for tax of ₹8,23,37,102 and a penalty of ₹42,74,03,710 under the CGST/TNGST Act, 2017 for FY 2019-20. The company is exploring options to challenge the order and believes it has a strong case under the prevailing GST law. Transrail Lighting does not anticipate a material impact on its financial operations.
Key Highlights
- Transrail Lighting received an order for tax and penalty totaling ₹50.97 Cr.
- The order pertains to GST TDS mismatch, ITC Mismatch, and RCM mismatch for FY 2019-20.
- The company is exploring options to challenge the order.
- Transrail Lighting believes it has a strong case based on the merits under GST law.
- The company does not expect a material impact on its financials.
Price Impact
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