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.
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