LG Electronics India Secures Favorable GST Order after Demand is Dropped for FY 2021-22
LG Electronics India Ltd has successfully resolved a tax matter concerning its financial year 2021-22. The company received an order from the Joint Commissioner GST, issued on July 1, 2026, which concluded favorably in the company's favour.The resolution pertains to a Show cause notice dated May 26, 2026, that had been issued under Section 74 of the CGST Act, 2017 and relevant provisions of the Uttar Pradesh GST Act, 2017.
The dispute centered on allegations of excess availment of Input Tax credit during FY 2021-22, based on reconciliation differences observed in GST returns. Following adjudication by the GST Authority, which was completed on July 1, 2026, the proposed demand amounting to Rs. 116.72 Crore has been dropped.
The total proposed demand, including penalties, amounted to Rs. 116.72 Crore. This amount was comprised of Principal Tax at Rs. 58.36 Crore and Penalty at Rs. 58.36 Crore.
A summary of the key aspects of the GST resolution is provided below:
| Particulars | Details |
|---|---|
| Authority | Joint Commissioner GST- Corporate Circle-2, Greater Noida, Gautam Budha Nagar, Uttar Pradesh |
| Nature of Action | Resolution following a Show cause notice dated May 26, 2026. |
| Financial Year | FY 2021-22 |
| Allegation | Excess availment of Input Tax credit based on GST returns reconciliation differences. |
| Outcome | The demand has been dropped in favour of the Company. |
The company confirmed that there is no financial, operational, or other material impact resulting from this order.
LGEINDIA Stock Price Movement
LG Electronics India Limited settled higher on its close today, gaining 0.66% to finish at ₹1567.9 after trading sessions concluded. The stock saw a brisk volume of 331,699 shares traded as the equity closed for the day.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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