Precision Electronics Limited Receives Order Regarding Tax Dispute
Precision Electronics Limited announced on March 28, 2026, that it received an order from the Office of the Assistant Commissioner of Central Goods and Service Tax, Roorkee Division, Haridwar. The order, received on March 27, 2026, concerns a review of the company's operations for the period April 2019 to March 2021.The order details several issues, including an inadmissible Input Tax Credit of Rs. 7,01,789 (IGST), Rs. 15,49,038 in IGST related to the import of services, and Rs. 71,192 (CGST Rs. 35,596 + SGST Rs. 35,596) pertaining to electricity charges. The total tax demand amounts to Rs. 23,22,019, accompanied by a penalty of Rs. 23,22,019 and applicable interest.
According to the company’s assessment, the order is appealable, and Precision Electronics Limited intends to exercise its right to appeal before the Commissioner of Appeals. The company does not anticipate a material impact on its financial performance, operations, or other activities as a result of this order.
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.