Mumbai, February 28, 2025: Whirlpool of India Limited (NSE: WHIRLPOOL | BSE: 600238) announced today it has received an order from the Central Goods and Services Tax (GST) Commissionerate, Ghaziabad, disallowing input tax credit amounting to ₹2.09 crore for the financial year 2020-21 and levying a penalty of ₹20.93 lakh.
Key Regulatory Update:
| Particulars | Details |
|---|
| Authority | Office of Commissioner, CGST, Ghaziabad |
| Nature of Action | Disallowance of GST Input Tax Credit |
| Amount Disallowed | ₹2,09,37,437 |
| Penalty Levied | ₹20,93,742 |
| Relevant Financial Year | FY 2020-21 |
| Date of Order | February 24, 2025 |
| Date of Receipt of Order | February 27, 2025 |
Whirlpool India clarified that this order would not materially impact its financial position, operations, or other business activities. The company has initiated the process to appeal against this decision before the appropriate appellate authority.
Management Commentary:
Roopali Singh, Vice President – Legal and Company Secretary, said, "The Company is actively contesting this order and will take necessary legal steps. There is no material impact on our financial or operational standing."
Strategic Outlook:
The company maintains that this development is not expected to affect investor sentiment significantly, emphasizing ongoing compliance and rigorous adherence to regulatory standards. Whirlpool India's management reassured stakeholders of continued operational stability while engaging proactively with regulatory procedures.