Bajaj Electricals Limited has received an unfavorable ruling from the GST appellate authority, with its appeal against a tax assessment order being rejected. The company disclosed this development under SEBI Listing Regulations on December 30, 2025.

GST Appeal Outcome

The Commissioner (Appeals), Central Excise & GST, Jaipur issued an Order-In-Appeal dated December 18, 2025, which the company received on December 29, 2025. The appellate authority rejected all submissions made by Bajaj Electricals during the appeal proceedings and upheld the original assessment order.

Background of the Case

The original assessment order was issued by the Assistant Commissioner, CGST Division – I, Jaipur under Section 73 of the GST Act, 2017. The GST authority had imposed the demand primarily due to disallowance of credit notes, prompting Bajaj Electricals to file an appeal before the appellate authority. The company had based its appeal on judgments from the Hon'ble High Court, seeking relief from the imposed demand and penalties.

Company's Response and Next Steps

Bajaj Electricals management is currently evaluating available legal options following the adverse appellate order. The company indicated that it may file an appeal before the appropriate tribunal against the Order-In-Appeal, continuing its legal challenge against the GST demand.

Financial Impact Assessment

The company has clarified that this GST matter does not impact its financial operations or other business activities. Despite the adverse ruling and the outstanding demand of ₹61.18 lakh, Bajaj Electricals maintains that its regular business operations remain unaffected by this regulatory issue.

The disclosure was made in compliance with Regulation 30 of SEBI Listing Regulations, demonstrating the company's commitment to transparency regarding material developments that could affect stakeholder interests.

Bajaj Electricals Limited has disclosed receiving a GST demand order worth ₹237.90 lakhs from tax authorities in West Bengal for alleged short payment of tax liability during FY 2021-22. The company made this disclosure under Regulation 30 of SEBI Listing Regulations on December 26, 2025.

GST Demand Details

The order was issued by the Office of the Deputy Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal under Section 73(9) of the CGST/WBGST Act, 2017. The company received the order on December 26, 2025, at 16:33 hours.

The GST authority has raised the demand on various grounds alleging short payment of tax liability by the company for the financial year 2021-22.

Company's Response and Legal Options

Bajaj Electricals' management is currently evaluating legal options to contest the demand order. The company has indicated that these options include filing an appeal before the appropriate tribunal against the said order.

The electrical equipment manufacturer has emphasized that there is no impact on the financial operations or any other activities of the company due to this order. This suggests that the company views the demand as contestable and does not expect it to materially affect its business operations.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed this information in line with its Policy on the Determination of Materiality for Disclosure of Events or Information.

The disclosure was signed by Prashant Dalvi, Chief Compliance Officer & Company Secretary, ensuring proper corporate governance protocols were followed in communicating this development to stakeholders and regulatory authorities.