Schneider Electric President Systems Limited announced it has received an order from the Office of the Superintendent of Central Tax, South Division -9, Bengaluru South Commissionerate, pertaining to the availment of Input Tax Credit (ITC) on reverse charge mechanism (RCM) transactions during the pre-GST period. The order, dated September 29, 2026, confirms a demand of Rs 5,39,195 (consisting of Rs 3,75,611 IGST, Rs 81,792 CGST, and Rs 81,792 SGST), along with Rs 8,20,050 in interest and a penalty of Rs 57,561, totaling Rs 14,16,806. While the company acknowledges the order, it anticipates no material impact on its financials, operations, or business activities and intends to pursue legal remedies, including an appeal.
