Bangalore, February 5, 2025 – Bosch Limited (NSE: BOSCHLTD, BSE: 500530) has received an order from the Deputy Commissioner of State Taxes, Goods and Services Tax, Excise & Taxation Department, Government of Haryana, Rewari, regarding an Input Tax Credit (ITC) mismatch under the SGST/CGST Act, 2017.
Regulatory Order and Financial Impact
The order, dated February 4, 2025, highlights an excess ITC claimed in GSTR-3B as compared to GSTR-2A for the financial year 2017-18. The financial impact on Bosch Limited is as follows:| Liability Component | Amount (INR) |
|---|---|
| Penalty | ₹57,565,206 |
| Tax Liability | ₹57,565,206 |
| Interest | ₹75,512,934 |
| Total Impact | ₹190,643,346 |
Compliance and Regulatory Disclosure
Bosch Limited has disclosed this development to stock exchanges as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has not yet commented on whether it intends to challenge the order or make provisions for this liability in its financial statements.Strategic and Financial Implications
This tax demand could have financial and operational ramifications for Bosch, particularly if further scrutiny arises from tax authorities regarding past filings. Investors will be keenly observing Bosch’s next steps, including potential legal recourse or settlement actions.With regulatory scrutiny on GST reconciliations intensifying, the case underscores the importance of tax compliance for large corporations operating in India