ISGEC fined ₹2.2 Lakhs for excess ITC availment; total demand ₹37.7 Lakhs
Isgec Heavy Engineering Limited received an order imposing a penalty of ₹2,20,112/- and interest of ₹14,83,677/- for excess Input Tax Credit availment in FY 2022-23. The total demand is ₹37,74,378/-. The company plans to appeal the order.
The financial impact of ₹37.74 Lakhs is material for a company of this nature, although not catastrophic. The need to file an appeal adds operational complexity and potential future costs. The impact is considered medium as it is a specific tax dispute rather than a systemic business issue.
The company has been penalized and faces a significant demand for excess Input Tax Credit, which negatively impacts its financial standing. Although an appeal is planned, the immediate financial burden and potential legal costs are negative.
Isgec Heavy Engineering Limited has been served an order imposing a penalty by the Assistant Commissioner/GSTO, Ward 62, Zone 5, Delhi.
The company received the order on May 15, 2026, at 14:15 HRS. The penalty imposed amounts to ₹2,20,112/-, with an additional interest of ₹14,83,677/-. The demand of ₹37,74,378/- was levied due to alleged excess availment of Input Tax Credit for the Financial Year 2022-23.
The total financial impact on the company is quantified at ₹37,74,378/-, which includes the tax demand, penalty, and interest. Isgec Heavy Engineering Limited intends to file an appeal against this order under the Goods and Services Tax Act. This intimation is also being published on the company's website.
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Isgec Heavy Engineering Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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