Orient Electric Limited announced the Order passed by Deputy Commissioner of Revenue, Government of West Bengal. Nature and details of the action(s) taken, initiated or order(s) passed: Demand Order issued under Section 73 of the West Bengal Goods and Service Tax Act, 2017; Date of receipt: April 02, 2024; Details of the violation(s)/contravention(s) committed or alleged to be committed: Demand of tax under Section 73 of the West Bengal Goods and Service Act, 2017, on the grounds of Inputs Tax Credits availed in excess /Inputs Tax Credit found reversible for the Assessment Year 2018-19 amounting to INR 1,757,934, interest thereon of INR 1,708,761 (levied upto the date of order, which need to be calculated till the date of payment) and penalty of INR 178,221. There is no material impact on financial, operation or other activities of the Company due to the aforesaid demand order.

The Company is in the process to appeal against this order.