BGR Energy Systems Fined Over Alleged Turnover Suppression in GST Case
BGR Energy Systems Ltd has received an order imposing a penalty following investigations by tax authorities regarding alleged suppression of turnover for a specific financial period. The total penalty amount stands at ₹30,65,591.26.The company received the order on June 18, 2026, from the Office of the Joint Commissioner, Corporate Circle, Kanpur I, Uttar Pradesh. The penalty was imposed under Section 122(2)(b) of the CGST/SGST Act in connection with the alleged suppression of turnover for the tax period spanning April 2019 to March 2020.
The breakdown of the financial penalty is as follows:
| Penalty Type | Amount Imposed (₹) |
|---|---|
| Aggregate Penalty | 30,65,591.26 |
| CGST Penalty | 15,32,795.63 |
| SGST Penalty | 15,32,795.63 |
The imposition of the penalty was based on the GST Authority's finding concerning the alleged suppression of turnover during the specified tax period.
Regarding the impact, BGR Energy Systems reported that there is no material financial impact on the company at this stage. The organization has indicated its intention to appeal the order received from the regulatory body.
BGRENERGY Stock Price Movement
BGR Energy Systems Limited edged higher today, closing at ₹331.25 after gaining 0.67%. The stock saw a trading volume of 59,345 shares, consolidating its gains from an intraday low recorded at ₹322.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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