Bajaj Electricals Limited Receives Order from the Office of the Deputy Commissioner, Central Goods and Services Tax, Division-Vii, Pune-I, Maharashtra
May 10, 2024 at 09:51 am
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Bajaj Electricals Limited announced that the Company has received an order dated May 9, 2024 from the Office of the Deputy Commissioner, Central Goods and Services tax, Division-VII (Shirur), Pune-I, Maharashtra, ("GST Authority"), issued under Section 73(1) of the Finance Act 1994 read with the provisions of Section 174(2) of the CGST Act 2017, involving an alleged tax demand (aggregating to INR 1.809 million), under Reverse Charge Mechanism related to service tax liabilities for the period from October 2015 to June 2017 in the state of Maharashtra, which includes a general penalty of INR 9.04 million ("Order"). The Company is currently exploring various legal options and necessary steps, including challenging the said Order issued by the GST Authority before the relevant appellate authority.
Bajaj Electricals Limited is engaged in the marketing of various consumer household and industrial goods. The Company operates through two segments: Consumer Products and Lighting Solutions. The Consumer Products segment is engaged in the manufacturing and trading of consumer durables products which includes fans, domestic appliances, kitchen appliances, and non-electrical kitchen aids. The Lighting Solutions segment is engaged in the manufacturing and trading of lighting products which includes light-emitting diode (LED) products, such as lamps, bulbs, battens and ceiling lights in consumer lighting and poles, high mast, street lighting, area lighting, in professional lighting. It also provides various fans comprising ceiling, pedestal, table, wall, personal, domestic, and others. It also involved in the engineering, procurement and commissioning of power transmission and power distribution infrastructure. It operates approximately 2,00,000 retail outlets.
BAJAJ ELECTRICALS LIMITED 
