Mumbai, 28th February 2025 – Suzlon Energy Limited has been penalized by the Office of the Commissioner of CGST and Central Excise, Chennai North Commissionerate. The penalty, amounting to ₹11,83,93,093, pertains to excess or ineligible input credit in Goods and Services Tax (GST) returns for the financial years 2020-21, 2021-22, and 2022-23.
Regulatory Action Details:
- Issuing Authority: Joint Commissioner of Central GST, Chennai, Tamil Nadu.
- Nature of Violation: Alleged excess input credit or ineligible GST input credit claimed during three fiscal years.
- Date of Order: 28th February 2025.
- Financial Impact: The company has stated that the penalty does not have a material impact on its financials, operations, or other activities.
This regulatory development is unlikely to have a significant effect on the company’s overall financial position, as per its statement. Investors and stakeholders will await further updates on the appeal proceedings.