Suzlon Energy faces penalty from Chennai GST authority

Suzlon Energy (BSE: SUZLON) has disclosed that the Office of the Commissioner of CGST and Central Excise, Chennai North Commissionerate, has imposed a penalty of ₹11,839,093 (Rupees one crore eighteen lakh thirty nine thousand and ninety three) on the company. This penalty stems from allegations of excess or ineligible input tax credit claims in GST returns filed during the fiscal years 2020-21, 2021-22, and 2022-23. Suzlon plans to appeal the order in due course. The company stated that the penalty will not have a material impact on its financial operations. The disclosure was made on February 28, 2025, in accordance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.