Bajaj electricals Limited has received an unfavorable appeal order regarding a GST demand of Rs 80.75 lakh, according to a regulatory disclosure filed with stock exchanges on March 31, 2026. The appeal order, dated March 26, 2026, was received by the company on March 30, 2026, at 14:17 hours.

GST Demand Details

The appeal order upholds the total demand raised by the Additional Commissioner, Circle-I, Jaipur III, AC, Jaipur-III, Rajasthan, under section 73 of the GST Act, 2017. The demand pertains to delayed reporting of sales invoices for FY 2017-18 and FY 2018-19.

Appeal Process Complications

The company had previously filed an appeal before the Office of the Commissioner (Appeals), Central Excise, Customs & Central Goods and Services Tax, Jaipur. However, complications arose during the appeal process:

• The company had withdrawn the appeal for FY 2017-18
• An application was submitted under the amnesty scheme for waiver of interest and penalty
• No order has been received regarding the amnesty scheme application to date
• The Appellate Authority did not acknowledge the withdrawal application and issued the appeal order covering both financial years

Legal Options Under Consideration

The management is currently evaluating appropriate legal remedies, which include:

• Filing an appeal before the appropriate appellate tribunal
• Filing a writ petition before the High Court against the appeal order

Financial and Operational Impact

According to the company's disclosure, the financial impact of the appeal order, if it materializes, would be limited to the extent of the demand raised and penalty levied. The company has clarified that there is no impact on operational, financial, or other business activities due to this order or assessment.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, in line with the company's Policy on the Determination of Materiality for Disclosure of Events or Information. This follows an earlier communication dated March 31, 2024, when the company first informed exchanges about receiving the initial assessment order.

Bajaj Electricals Limited has received a GST assessment order with a demand of Rs. 67.31 lakh, including penalties, from the Mumbai South Commissionerate. The company disclosed this development to stock exchanges under regulatory compliance requirements on March 31, 2026.

GST Assessment Details

The assessment order was issued by the Office of the Assistant Commissioner of CGST & Central Excise, Division-II, Mumbai South Commissionerate on March 30, 2026. The company received the order on the same day at 17:36 hours.

The demand has been raised on account of non-filing of return, specifically GSTR 3B, by the company's vendors. The penalty of Rs. 33.65 lakh forms a significant portion of the total demand.

Company's Response Strategy

Bajaj Electricals' management is currently evaluating appropriate legal options to address the assessment order. The company has indicated that these options include filing an appeal before the appropriate appellate authority against the said order.

The company has assured stakeholders that there is no impact on its operational, financial, or other activities due to this assessment order. The financial impact, if it materializes, would be limited to the extent of the demand raised and penalty levied.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Specifically, the disclosure falls under sub-para 8 of Para B and/or sub-para 20 of Para A of Part A of Schedule III of the SEBI Listing Regulations.

The company has informed both BSE Limited (Code No. 500031) and National Stock Exchange of India Limited (BAJAJELEC - Series: EQ) about this development as part of its compliance obligations. The disclosure was signed by Prashant Dalvi, Chief Compliance Officer & Company Secretary, on March 31, 2026.