Swaraj Engines Receives Penalty Order of ₹9.55 Lakhs, Appeals Expected
Swaraj Engines Limited received a demand order imposing a penalty of ₹9,55,300 for the Financial Year 2021-22. The penalty concerns ITC claims related to cancelled dealers and ineligible ITC. The company plans to appeal the order, expecting no material financial impact.
The penalty amount is ₹9.55 lakhs, which is considered low relative to the company's overall financial standing. Furthermore, the company expects no material financial impact after filing an appeal.
The company received a penalty order, which is negative. However, they are planning to appeal and expect no material financial impact, which mitigates the negativity.
Swaraj Engines Limited has announced the receipt of a demand order from the Assistant Commissioner of State Tax, SAS Nagar, Punjab. The order imposes a penalty of ₹9,55,300 under the PGST/CGST Act, 2017.
This penalty relates to Input Tax Credit (ITC) claimed on purchases from cancelled dealers, ineligible ITC claimed under Section 17(5), and credit wrongly availed due to an incorrect place of supply mentioned by a supplier during the Financial Year 2021-22.
The company received the order on December 30, 2025, at 11:02 PM. Swaraj Engines Limited has assessed the situation and plans to file an appeal, expressing optimism for a favorable outcome at the appellate level. The company anticipates that this order will not have any material financial impact.
What to do with a filing like this
Swaraj Engines 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 low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Swaraj Engines Limited. Read the original for the full detail.