GST authority drops FY 2020-21 proceedings involving proposed IGST refund recovery and penalty
GST authority has dropped proceedings for FY 2020-21.
By ScoutQuest · · 1 min read
- Penalty Proposed in Show-Cause Notice
- Rs. 282.34 crore
- Tax Period
- FY 2020-21
- Company Stated Impact
- Nil
What the update says
The GST authority, by its order dated October 15, 2026, has dropped the proceedings initiated under Section 74 of the MPGST Act, 2017 read with Section 74 of the CGST Act, 2017 for the tax period FY 2020-21. The proceedings were dropped on the basis of information available on record with the authority.
Who issued the notice
The show-cause notice was issued by the Office of the Deputy Commissioner of State Tax (SGST), Mandideep Circle, Bhopal Division-2, Bhopal Zone, Madhya Pradesh.
What was proposed at the notice stage
- The show-cause notice had proposed recovery of IGST refunds along with a penalty amounting to Rs. 282.34 crore for FY 2020-21.
- It is this proposed recovery and penalty that the authority has now dropped for FY 2020-21.
Impact stated by the company
- The company has stated the impact on its financial, operational or other activities, quantifiable in monetary terms, as Nil.
How this reached the exchanges
- The information came in a letter from HEG Limited (formerly known as HEG Graphite Limited), the Resulting Company as per the Composite Scheme of Arrangement.
- The disclosure to the exchanges was made by HEG Advanced Materials Limited (formerly HEG Limited), the Demerged Company referred to in the letter.
What an investor can note
- The order records that the proceedings for FY 2020-21 have been dropped.
- The company's stated impact of the development is Nil.
Also from HEG Advanced Materials
Board meeting on November 3 to consider Q2 and H1 results and ESOP 2026
23 Oct 2026
Change in name of Resulting Company under Composite Scheme of Arrangement, effective October 12, 2026
13 Oct 2026
Re-lodgement of transfer requests of physical shares: no requests received in September 2026
7 Oct 2026
More numbers
- Proposed recovery of IGST refunds along with penalty for FY 2020-21Rs. 282.34 crore
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