Suzlon Energy penalized with Rs.4,158 for violation of GST ITC norms

The Office of the Commissioner of Indirect Taxes and Customs, Hyderabad, has fined Suzlon Energy Limited Rs.4,158 for short reversal of input tax credit (ITC) under Section 74 of the CGST Act, 2017, the company announced in a stock exchange filing on Wednesday.

The wind energy giant was issued the penalty notice on October 22, 2024, following an audit observation by the Superintendent – SAG41, Audit-1, Hyderabad, Telangana. The company argued that the penalty amount is insignificant and has no major impact on its financial operations or other activities.

The shares of Suzlon Energy Limited were opened trading at Rs.69.07 on the NSE today at 11.40 am.

Suzlon is India’s leading renewable energy solutions provider offering a 360-degree total solutions package to its customers that covers the entire spectrum of wind energy projects.