State-owned Bharat Heavy Electricals Ltd (BHEL) has received show cause notices from GST Authorities, Telangana, for more than ₹586 crore.
The notices pertain to three financial years beginning 2021-22 and have been issued by Assistant Commissioner (ST), Commercial Tax Department, Telangana. They are based on GST annual returns and financial statements.
On likely financial implications, BHEL in a filing to the stock exchanges on Friday said since the case is at show cause notice stage and no order has been issued yet, the implications cannot be quantified at this stage. However, the amount indicated in the notices is ₹184.55 crore for 2021-22; ₹207.26 crore for 2022-23 and ₹194.62 crore for 2023-24, the company said.
Seems untenable
The issues raised are generic in nature and seem to be not tenable. The issues raised are being evaluated for replying suitably to the GST authorities. Penalty if any can be quantified only after the issuance of order.
