Bajel Projects Receives Rs 23.7 Million Tax Demand; Company Plans Response

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Bajel Projects Limited has been served a penalty of Rs 23.7 million by the GST Authority following discrepancies in its tax filings for FY 2023–24 and FY 2024–25. The issue stems from mismatches between the company’s GSTR3B and GSTR7 returns.

Key Highlights:

Total demand includes tax, interest, and penalty components
Bajel Projects intends to contest the charges, citing a strong legal position
The company asserts no impact on its financial operations or ongoing projects

Operational Context:

Bajel Projects is a Bajaj Group entity specializing in power transmission and distribution
The firm has recently reported strong revenue growth and bagged multiple EPC orders
Despite the penalty, management maintains that business continuity remains unaffected

Investor Implications:

Stock performance has been volatile, with a YTD decline of over 36 percent
Analysts expect limited financial impact due to the company’s robust order book and liquidity

Outlook:

While the penalty adds regulatory pressure, Bajel’s proactive response and operational strength may help mitigate longterm reputational or financial damage.

Source: TipRanks, Economic Times