29-Sept-2026 14:17:08
SCHNEIDER ELECTRIC PRESIDENT SYSTEMS LIMITED : DISCLOSURE UNDER REGULATION 30
• The company has received an Order-in-Original (OIO) under Section 73(9) of the Central Goods and Services Tax Act, 2017. • The order pertains to the availment of Input Tax Credit (ITC) on reverse charge mechanism (RCM) transactions for the pre-GST period. • The order confirms a demand of ₹5,39,195 towards ITC, along with applicable interest and a penalty of ₹57,561, totaling ₹5,96,756. • The company received the order on September 28, 2026, at 16:42 hrs (IST). • The authority alleges inadmissible availment of ITC amounting to ₹5,39,195 for services received between December 2016 and June 2017. • The company does not expect any material impact on its financials, operations or business activities. • The company has adequate grounds to contest the order and is evaluating appropriate legal remedies, including filing an appeal. Impact: Neutral (Contestable tax order with no material financial impact expected.)
Schneider Electric President Systems Ltd
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