JKB Financial Services Ltd.

As on : 29-Sep-2026

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29-Sep-2026 14:25

Schneider Electric faces Rs 5.97 lakh demand from tax authorities over ITC claim

Schneider Electric President Systems Ltd. currently trades at Rs 2050.0, having advanced by 14.62% over the last week.

Schneider Electric President Systems Limited has received an Order-in-Original under the Central Goods and Services Tax Act, 2017, related to the availment of Input Tax Credit (ITC) on reverse charge mechanism transactions from the pre-GST period. The order, dated September 28, 2026, confirms a demand of Rs 5,39,195 (comprising Rs 3,75,611 IGST, Rs 81,792 CGST, and Rs 81,792 SGST), along with applicable interest and a penalty totaling Rs 57,561, bringing the total assessed amount to Rs 5,96,756. While the company acknowledges the order alleges an inadmissible ITC claim of Rs 5,39,195, it anticipates no material financial or operational impact and intends to pursue legal remedies, including an appeal.

Schneider Electric President Systems Ltd. shares saw a trading volume of 3776 today, a marginal increase of 9.07% compared to the average volume over the last one week. Schneider Electric President Systems Ltd. surged by 2543.46% year-over-year, outperforming the 7.53% loss recorded by the NIFTY50 index.

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