Suzlon Energy sees GST penalty significantly reduced, refund expected

Suzlon Energy Ltd. has reported a significant modification to a penalty previously imposed by the State GST authority in Gujarat. The deputy commissioner of state tax, appeal, Gandhidham, Gujarat, accepted the company's submission, reducing the penalty from INR 19,54,890 to INR 50,000.

The penalty reduction relates to contraventions of e-way bill provisions under the GST Act, 2017. As a result of this modification, Suzlon Energy expects a refund of INR 19,04,890, which represents the balance amount after the reduced penalty. The company stated that this development has no material impact on its financial, operational, or other activities.