Bansal Wire Industries Reports Resolution of GST Appeal for Subsidiary BSPL
Bansal Wire Industries Limited has reported a favorable outcome regarding a Goods and Services Tax (GST) appeal concerning its subsidiary, Bansal Steel & Power Limited (BSPL). The Appellate Authority accepted the appeal filed by BSPL, reducing an interest demand to nil.The matter stems from an initial GST notice received by BSPL pertaining to the financial year 2017-18. This original assessment included a penalty of Rs. 50,99,895/- and a tax liability totaling Rs. 57,77,896/, along with interest amounting to Rs. 89,94,666/-.
Following subsequent procedures, the Company had previously been informed that BSPL received a rectification interest demand of Rs. 16,88,804/-, which had concurrently reduced the overall GST liability amount to NIL.
The legal appeal regarding this specific demand was reviewed by the Joint Commissioner of State Tax (Appeals), Cum-Appellate Authority in Rohtak. The authority issued an order on July 25, 2026, confirming that the appeal was accepted and reducing the interest demand of Rs. 16,88,804/- to NIL, thus closing the case related to this specific demand.
The details of the resolution are as follows:
| Particulars | Details |
|---|---|
| Authority Name | Joint Commissioner of State Tax (Appeals), Cum-Appellate Authority, Rohtak |
| Date of Order Receipt | July 25, 2026 |
| Nature of Action Taken | Appeal order received in favour of BSPL reducing the Interest demand of Rs. 16,88,804/- to NIL and closing the case. |
| Alleged Contravention | Alleged Demand for Interest on ITC claimed |
| Business Impact | The matter has no financial, operational or other business impact on the Company. |
BANSALWIRE Stock Price Movement
On Friday, shares of Bansal Wire Industries Limited edged higher, settling at ₹324.00 after gaining 4.56% on the day. The stock traded within a range between ₹307.2 and ₹325, with a volume totaling 264,854 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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