Schaeffler India fined ₹3.6 Crore by GST & Excise Dept; plans appeal
Schaeffler India Limited has received an order from the Additional Commissioner, Goods and Service Tax and Central Excise, Salem, Gujarat, imposing a penalty of ₹3,59,51,098 (Rupees Three Crore Fifty-...
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Why is Schaeffler India Limited in the news today?
Schaeffler India Limited (SCHAEFFLER) is in the news due to the company has been imposed a significant penalty by the gst and excise department.
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Schaeffler India fined ₹3.6 Crore by GST & Excise Dept; plans appeal
December 19, 2025, 04:42 AM
Schaeffler India Limited has received an order from the Additional Commissioner, Goods and Service Tax and Central Excise, Salem, Gujarat, imposing a penalty of ₹3,59,51,098 (Rupees Three Crore Fifty-Nine Lakh Fifty-One Thousand and Ninety-Eight only).
The communication, dated December 18, 2025, pertains to the disallowance of Input Tax Credit (ITC) and a demand for penalty. The company states that there is no material impact on its financials, operations, or other activities due to this order.
Schaeffler India Limited is in the process of filing an appeal with the Commissioner of Goods and Service Tax and Central Excise, Salem, Gujarat, against the said order.
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