Bharat Heavy Electricals Limited announced that it has received a communication/demand order for demand of Goods & Service Tax along with interest and penalty from the Office of Joint Commissioner of State Tax Jurisdiction: Circle-D, Kota, AC/CTO; Ward: Circle-D, Rajasthan. Rectification Application u/s 161 of GST Act is being filed by BHEL against the said order. Date of receipt of direction or order is May 6, 2024.

Details of the violation(s)/contravention(s) committed or alleged to be committed: The Company has received the impugned Order CGST/SGST Act 2017 for financial year 2018-2019 for the in respect of demand made u/s 73 of state of Rajasthan, on account of excess ITC claimed amounting to INR 28,618,541, interest of INR 28,325,298 and imposition of penalty of INR 2,861,854. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no material impact on Financials, no impact on operation or other activities of the company due to intimation of tax payable. Rectification Application u/s 161 of GST Act is being filed against the said order.