Suzlon Energy unit faces GST penalty, plans appeal

Suzlon Energy announced today that its wholly-owned subsidiary, Suzlon Global Services Limited, has been levied a penalty by the Assistant Commissioner of Central GST Jaipur, Rajasthan. The penalty amounts to ₹1,103,921. The order, dated February 18, 2025, pertains to alleged excess Input Tax Credit (ITC) claims during the fiscal year 2020-21. Suzlon Energy stated that it intends to file an appeal against the order in due course. The company has said the penalty will not have a material impact on its financial or operational activities. This information was disclosed to the National Stock Exchange of India and the BSE Limited, in compliance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.