Bajaj Electricals Limited has received another favorable outcome in a separate GST dispute, with the appellate authority reducing the demand to Rs. 4.60 lakh including penalty. The company disclosed this latest development through a regulatory filing on March 26, 2026, marking the resolution of a different GST case from its earlier reported matter.

Latest GST Appeal Order Details

The company received an Appeal Order dated March 13, 2026, from the Office of the Commissioner, Appeals-I, CGST & CX, Mumbai, delivered on March 25, 2026, at 14:00 hours through courier. The order was issued under Section 107 of the CGST Act 2017, with the appellate authority partially accepting the company's submissions.

Background of This GST Case

This matter originated from an assessment order issued by the Superintendent, Range-I, Division-II, CGST & Central Excise, Mumbai South Commissionerate, Maharashtra. The original gross demand was Rs. 11.51 lakh, including a general penalty of Rs. 1.68 lakh, based on alleged GST input mismatch issues.

The company had previously made a partial payment of Rs. 6.71 lakh, which included a general penalty of Rs. 0.61 lakh, as communicated in January 2026. The remaining portion of the demand was pending before the appellate authority until this recent order.

Management's Legal Strategy

Bajaj Electricals' management is currently evaluating appropriate legal options in response to this appellate order. The potential courses of action include:

• Filing an appeal before the appropriate appellate tribunal
• Filing a writ petition before the Hon'ble High Court against the Appeal Order

Financial Impact Assessment

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

Regulatory Compliance Framework

This disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations, specifically under sub-para 8 of Para B and/or sub-para 20 of Para A, Part A of Schedule III. The filing follows the company's established policy on the Determination of Materiality for Disclosure of Events or Information, ensuring transparency with stakeholders regarding material legal developments.

Bajaj Electricals Limited has disclosed receiving an adverse appeal order from GST authorities, upholding a demand of Rs. 3.62 crore including penalties. The company informed stock exchanges about this development under Regulation 30 of SEBI Listing Regulations on March 18, 2026.

GST Appeal Order Details

The Appellate Authority issued the adverse appeal order dated March 13, 2026, which was received by the company on March 18, 2026, at 15:41 hours. The order was issued under Section 107 of CGST Act 2017 by the Office of the Commissioner (Appeals), Central Excise, Customs & Central Goods and Services Tax, Jaipur.

Background of the Case

The company had previously received an assessment order from the Additional Commissioner, Circle-I, Jaipur III, AC, Jaipur- III, Rajasthan, under section 73 of the GST Act, 2017. This was communicated to exchanges through a letter dated March 31, 2024. The GST Authority had imposed the total demand on account of alleged disallowance of Input Tax Credit due to mismatch with GSTR 2A.

Following the initial assessment order, Bajaj Electricals had filed an appeal before the Appellate Authority. However, the Appellate Authority has now rejected and disposed of the appeal application, upholding the earlier demand in its entirety.

Company's Response and Next Steps

The management is currently evaluating appropriate legal options available to challenge the adverse appeal order. The company has indicated that these options include:

• Filing an appeal before the appropriate appellate authority
• Filing a writ petition before the Hon'ble High Court against the Appeal Order

Financial and Operational Impact

The company has clarified that the financial impact of the Appeal Order, if it materializes, would be limited to the extent of the demand raised and penalty levied. Bajaj Electricals has specifically stated that there is no impact on the operational, financial, or other activities of the company on account of this order or assessment.

The disclosure was made in compliance with the company's Policy on the Determination of Materiality for Disclosure of Events or Information and the applicable provisions of SEBI Listing Regulations.