Shilchar Technologies Ltd. Receives GST Order
Shilchar Technologies Ltd. announced receipt of an order dated March 26, 2026, from The Joint Commissioner of Central Tax, CGST and Central Excise, Vadodara-I. The order was received April 1, 2026.The order confirms a GST demand of Rs. 3,21,20,305, along with an interest amount of Rs. 2,13,023, and a penalty of Rs. 50,000. The total demand is Rs. 3,57,97,625, which includes interest of Rs. 2,78,699 and a penalty of Rs. 2,00,000. Shilchar Technologies has already paid Rs. 1,95,851 in tax, Rs. 1,77,297 in interest, and Rs. 50,000 in penalty, which has been appropriated against the confirmed demand.
The interest was levied under Sections 50(1) / (3) of the CGST Act, 2017 and a penalty of Rs. 3,18,98,805 was imposed under Section 74 of the CGST Act, 2017.
The matter stemmed from audit observations concerning classification, GST return reconciliation, financial statement reconciliation, and procedural aspects. Shilchar Technologies believes it has a strong case and anticipates minimal impact on its financial position. The company plans to challenge the order before the First Appellate Authority.
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