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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
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Schaeffler India Ltd

Schaeffler India receives INR 13.85 Crore GST penalty order

REGULATORY ◆ Monitor Closely MEDIUM RISK
📅 Filed on BSE: 27 Oct 2026, 10:45 PM IST  ·  BSE ID: 14d96cc5-c1a5-4ac1-891e-067af96ef398
View Original BSE Filing (PDF)
💡
In Simple Terms
The tax department has ordered Schaeffler India to pay a penalty of over Rs. 13.85 Crore related to past GST filings.
🤖 AI Summary
  • Schaeffler India received a INR 13,85,25,490 GST penalty order from CGST & Central Excise, Indore.
  • The penalty stems from a GST audit for FY 2020-21 to 2023-24 concerning Input Tax Credit.
  • Goods supplied from Hosur to MP warehouse were questioned regarding GST rates and ITC.
  • The company is filing an appeal against the order and reports no material financial impact.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Penalty Imposed
INR 13,85,25,490/-
GST Audit Period
FY 2020-21 to 2023-24
Excess ITC Identified
10%
🏢 How This Affects the Company
📈
Business Impact
The company reports no material impact on its operations or business activities.
💰
Financial Impact
A penalty of INR 13,85,25,490 has been levied, though the company states no material financial impact. The company is in the process of filing an appeal.
⚙️
Operational Impact
The company reports no material impact on its operations.
⚠️
Risk Impact
The penalty and ongoing appeal introduce regulatory and compliance risk, although the company asserts no material impact.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders. Monitor the company's appeal status.
👤
Who Is Affected
All shareholders are indirectly affected by potential future financial implications should the appeal be unsuccessful.
🔍
Management Signal
Management is actively contesting the tax authority's order by filing an appeal, signalling a commitment to challenging perceived unjustified penalties.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Outcome of Schaeffler India's appeal to the GST Commissioner (Indore).
Any further clarification or communication from tax authorities regarding the penalty.
Next quarterly results disclosure for any mention of appeal costs or provisions.
MEDIUM RISK Significant penalty levied, requiring appeal; potential for future financial impact if appeal fails.
💡 Investor Takeaway
Schaeffler India received a INR 13,85,25,490 GST penalty for FY 2020-21 to 2023-24 regarding ITC, but reports no material financial impact and is appealing.
⚖️ Strengths & Concerns

✅ Positives

  • Company states no material impact on financials, operations, or other activities from the GST order.
  • Company is actively pursuing an appeal process with the GST commissioner.

⚠️ Concerns

  • A penalty of INR 13,85,25,490 has been levied by the Adjudication Branch, CGST & Central Excise.
  • Disallowance of 10% excess Input Tax Credit availed at the MP warehouse for FY 2020-21 to 2023-24.
❓ Frequently Asked Questions
What is the amount of the GST penalty imposed on Schaeffler India?
Schaeffler India was levied a penalty of INR 13,85,25,490/- by the Adjudication Branch, CGST & Central Excise, Indore.
What period does the GST audit and penalty order cover for Schaeffler India?
The GST audit and penalty order pertains to the fiscal years FY 2020-21 to 2023-24 (4 years).
What is the reason for the GST penalty on Schaeffler India?
The penalty is due to the disallowance of 10% excess Input Tax Credit (ITC) availed at the MP warehouse and GST rates on goods supplied.
What action is Schaeffler India taking regarding the GST penalty order?
Schaeffler India is in the process of filing an appeal against the order to the GST Commissioner - Appeal (Indore).
What is the expected financial impact of the GST order on Schaeffler India?
Schaeffler India states that there is no material impact on the financials, operations, or other activities of the Company.

Questions based on this BSE filing only. For information purposes.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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