Favourable GST appeal: penalty of Rs. 32.50 lakh waived, interest cut from Rs. 8.46 lakh to Rs. 1.28 lakh
Bajaj Electricals has received a favourable GST appellate order for FY 2017-18.
- Penalty Waived
- Rs. 32.50 lakh
- Interest Redetermined
- reduced from Rs. 8.46 lakh to Rs. 1.28 lakh
- Revised Interest Paid
- Rs. 1.28 lakh already paid during appellate proceedings
- Financial Year
- FY 2017-18
- Assessment Order
- earlier assessment order stands annulled
What the company has informed the exchanges
Bajaj Electricals has told BSE and NSE about an order received from the Office of the Commissioner (Appeals), Central Goods and Service Tax & Central Excise, Ranchi, Jharkhand. This follows an earlier communication dated February 4, 2025, in which the company had informed about an assessment order dated January 28, 2025.
What the original order said
- The assessment order was issued by the Deputy Commissioner, Ranchi South Division, under Section 74 of the Jharkhand State Goods and Services Tax Act, 2017, read with the relevant provisions of the CGST Act, 2017 and the IGST Act, 2017.
- It related to alleged non-payment of interest on the reversal of GST Input Tax Credit in Form GSTR-3B for FY 2017-18.
- It imposed a penalty of Rs. 32.50 lakh and interest of Rs. 8.46 Lakh.
What the appellate authority has now decided
- The appeal order was issued by the Office of the Commissioner (Appeals), Central Goods and Service Tax & Central Excise, Ranchi, Jharkhand, and was received by the company on October 1, 2026, at 12:05 p.m.
- The Appellate Authority annulled the Assessment Order.
- The entire penalty of Rs. 32.50 lakh has been waived.
- The interest amount has been redetermined, reduced from Rs. 8.46 lakh to Rs. 1.28 lakh.
Money involved
- Penalty waived by the appellate authority: Rs. 32.50 lakh
- Interest before the appeal order: Rs. 8.46 lakh
- Interest after the appeal order: Rs. 1.28 lakh
- The company states that the revised interest of Rs. 1.28 lakh has already been discharged by it during the appellate proceedings.
What the company says about the impact
- The financial impact of the order is limited solely to the relief granted and the interest amount paid as per the appeal order.
- The company says there is no other impact on its operational, financial or other activities from this order.
How a retail investor might read this
- A penalty that was imposed earlier has been fully waived, and the interest payable has been brought down. The company describes this as a favourable order.
- The matter relates to FY 2017-18 and to one state's GST authority. It concerns a tax assessment, not the company's core business of making and selling electrical products.
- The company has said the amount that remains payable on this count, the revised interest of Rs. 1.28 lakh, has already been paid, and that nothing else flows from the order.
Also from Bajaj Electricals
Board meeting on October 28, 2026 to consider Q2 and half-year unaudited results
7 Oct 2026
GST appellate order sets aside assessment order; Rs.29.63 lakh demand including Rs.2.69 lakh penalty dropped
1 Oct 2026
More numbers
- Penalty imposed in the original assessment orderRs. 32.50 lakh
- Penalty waived by the appellate authorityRs. 32.50 lakh
- Interest in the original assessment orderRs. 8.46 Lakh
- Interest redetermined in the appeal orderRs. 1.28 lakh
- Revised interest already discharged by the companyRs. 1.28 lakh
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