Thermax Limited has received an Assessment Order from the State Tax Officer (GST) in Jamshedpur, Jharkhand. The order includes a penalty of ₹11.86 lakh due to discrepancies between input tax credit claimed by the Company and tax reported by its suppliers. Thermax intends to appeal the demand in due course.
Assessment Order Details
Thermax Limited has been issued an Assessment Order by the State Tax Officer (GST) in Jamshedpur, Jharkhand, dated December 31, 2025.
Penalty Imposed
The assessment order includes a penalty of ₹11.86 lakh. The penalty arises from a discrepancy identified between the Input Tax Credit (ITC) availed by Thermax and the tax reported by its suppliers. Specifically, the GST credit availed was not supported by supplier’s reporting in their returns on the GSTIN portal.
Company Response
Thermax intends to challenge the demand by filing an appeal in due course. The company does not anticipate any significant impact on its financial operations as a result of this order.
Source: BSE
