ISGEC Fined ₹13.67 Crore by Central Tax Authority
Isgec Heavy Engineering Limited has received an order imposing a penalty of ₹13,67,16,445/- from the Joint Commissioner of Central Tax & Central Excise, Bengaluru East Commissionerate. The company rec...
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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 penalized and faces a significant financial impact due to a tax demand, which is a negative development.
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ISGEC Fined ₹13.67 Crore by Central Tax Authority
December 31, 2025, 11:16 AM
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Isgec Heavy Engineering Limited has received an order imposing a penalty of ₹13,67,16,445/- from the Joint Commissioner of Central Tax & Central Excise, Bengaluru East Commissionerate. The company received this communication on December 30, 2025.
The penalty was levied following a tax demand of ₹6,27,80,982/- for allegedly failing to discharge GST liability on advances received for the supply of services in statutory returns, as per Section 74(9) of the CGST Act.
The total financial impact on the company is quantified at ₹19,94,97,427/-, which includes the tax demand of ₹6,27,80,982/- and the penalty of ₹13,67,16,445/-. Isgec Heavy Engineering Limited intends to file an appeal against this order under the Goods and Services Tax Act. This intimation is also being published on the company's website.
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