Pune, January 30, 2025 – Honeywell Automation India Limited (NSE: HONAUT, BSE: 517174) has disclosed that it has received an order from the Department of Goods and Services Taxes, Tamil Nadu, demanding tax payment for the period from July 2017 to December 2023.
Key Highlights of the GST Order
- Authority Issuing the Order: Assistant Commissioner, Kilpauk Assessment Circle.
- Tax Demand: The company has been asked to pay INR 8,67,905 in GST, along with INR 11,12,821 in interest and INR 86,791 as a penalty.
- Date of Communication: January 29, 2025.
- Nature of Violation: The order outlines a GST demand spanning multiple financial years, though specific details regarding the nature of non-compliance have not been provided.
- Impact on Financials & Operations: Honeywell Automation India has stated that the financial impact of this order is not material, and there is no effect on operations. The company intends to appeal the order before the due date.
Next Steps
Honeywell Automation India Limited plans to challenge the order through the appropriate legal channels, asserting that the demand does not significantly impact its financial position. The appeal process will determine whether the company will be required to make payments or if any relief can be obtained.This update is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has been communicated to stock exchanges.