Schneider Electric Infrastructure Limited Receives Rectification Order, Sees Penalty Reduction on Tax Demand
Schneider Electric Infrastructure Limited has received a Rectification Order from the Joint Commissioner regarding a tax matter pertaining to the wrong availment of Input Tax Credit for the financial year 2019-20. The order resulted in a significant reduction in the penalty amount, while the core tax demand remains unchanged.The company received the Rectification Order along with Form GST APL -04 from the Joint Commissioner, Division-I Vadodara, CBIC, on June 2, 2026. This matter relates to allegations concerning the improper utilization of Input Tax Credit for FY 2019-20.
The details of the Rectification Order demanding tax and penalty are as follows:
| Nature | Particulars | Amount (INR) |
|---|---|---|
| Tax | IGST | 2,138 |
| CGST | 4,636,977 | |
| SGST | 4,636,977 | |
| Total Tax | 9,276,092 | |
| Penalty | Total | 947,396 |
According to the company's update, the penalty amount related to the matter has been substantially reduced by INR 8,328,696/- through the Rectification Order. The tax demand, however, remains consistent with the earlier Appeal Order.
The company stated that there is no material impact on its financial standing or routine business operations, noting that any limited impact would be confined to the extent of the demand specified in the Rectification Order.
SCHNEIDER Stock Price Movement
As of 3:08 PM, shares of Schneider Electric Infrastructure Limited are slipping by 4.99% in live trading, currently valued at ₹1122.3 after shedding ₹59.00 per share. The stock saw a clear downward move during the day, with reported traded volume reaching 35,828 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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