Schneider Electric Infrastructure Limited (SEIL) has received a Rectification Order from the Joint Commissioner, Division-I Vadodara, CBIC, significantly reducing the penalty amount. This order, received on June 2, 2026, pertains to the alleged wrong availment of Input Tax Credit for the financial year 2019-20. The penalty has been reduced by ₹8,328,696 (approximately ₹83.28 lakhs), while the tax amount remains unchanged as per the previous Appeal Order. The revised demand includes ₹9,276,092 in tax, ₹947,396 in interest, and a reduced penalty. SEIL has stated that this rectification order will have no material impact on its financials, operations, or other activities, with the impact limited to the extent of the demand in the Rectification Order itself.
