Hitachi Energy faces Rs.46.29 crore tax demand following GST audit for FY2019-20
Hitachi Energy India Ltd on Tuesday (September 3) said it has received a tax demand totalling Rs.46.29 crore following an audit conducted by the Assistant Commissioner of Commercial Taxes (Audit). The demand comprises Rs.24.41 crore in GST, Rs.19.43 crore in interest, and Rs.2.44 crore in penalties.
The audit, covering the financial year 2019-2020, identified alleged violations, including irregular input tax credit availed, non-payment of GST on outward e-waybills, and misclassifying taxable supplies as zero-rated exports.
The tax demand stems from several key issues identified during the GST audit for FY 2019-20. The authorities found irregularities such as the alleged improper availing of input tax credit, particularly in instances where payments were not made within the 180-day window as mandated by the Karnataka GST Act, 2017.
Additionally, the audit highlighted instances where GST was reportedly not paid on outward e-waybills and where certain taxable supplies were incorrectly classified as zero-rated exports without tax payment.
