ISGEC fined ₹1.29 Lakhs by CGST, Raipur; Total Impact ₹14.23 Lakhs
Isgec Heavy Engineering Limited has received an order imposing a penalty of ₹1,29,351/- from the Superintendent, CGST, Raipur. The penalty is related to an alleged inadmissible Input Tax Credit wrongl...
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Why is Isgec Heavy Engineering Limited in the news today?
Isgec Heavy Engineering Limited (ISGEC) is in the news due to the company has been imposed a penalty and tax demand, which negatively impacts its financial standing.
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ISGEC fined ₹1.29 Lakhs by CGST, Raipur; Total Impact ₹14.23 Lakhs
December 31, 2025, 01:09 PM
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Isgec Heavy Engineering Limited has received an order imposing a penalty of ₹1,29,351/- from the Superintendent, CGST, Raipur. The penalty is related to an alleged inadmissible Input Tax Credit wrongly availed and utilized as per Section 73(1) of the CGST Act, with a tax demand of ₹12,93,512/-.
The total financial impact on the company is quantified at ₹14,22,863/-, which includes the tax demand and the penalty. The company has stated its intention to file an appeal against this order under the Goods and Services Tax Act.
This intimation was received on December 31, 2025, at 11:54:00 HRS and will also be published on the company's website.
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