Bharat Heavy Electricals Limited (BHEL) has been served with Goods and Services Tax (GST) show cause notices amounting to ₹586.43 crore by the Commercial Tax Department of Telangana. These notices relate to discrepancies in GST annual returns and financial statements for the financial years 2021-22, 2022-23 and 2023-24.
The notices were issued on September 18, 2025, by the Assistant Commissioner (ST) under Section 73 of the CGST and TGST Acts, 2017.
According to BHEL's exchange filing, the demand is split across 3 years: ₹184.55 crore for FY 2021-22, ₹207.26 crore for FY 2022-23 and ₹194.62 crore for FY 2023-24. These figures stem from the evaluation of BHEL's GST returns and related financial records for each period.
BHEL has clarified that the matter is currently at the show-cause notice stage and has yet to reach any adjudication. As such, no accurate assessment of financial impact can be made at this time.
The company considers the issues raised by the department to be generic in nature and believes they may not hold merit. It has been indicated that the detailed issues will be examined and addressed with a suitable response to the authorities.
Read More: BHEL Secures Orders from Indian Railways and MB Power!
On September 19, 2025, Bharat Heavy Electricals share price opened at ₹233.94 on NSE, below the previous close of ₹234.49. During the day, it surged to ₹241.35 and dipped to ₹233.71. The stock is trading at ₹239.75 as of 2:17 PM. The stock registered a significant gain of 2.24%.
Over the past week, it has moved up by 4.39%, over the past month, it has moved up by 9.68%, and over the past 3 months, it has declined by 2.81%.
BHEL’s receipt of GST show cause notices worth ₹586.43 crore marks a significant development in its compliance review. While the company prepares to contest the claims, the resolutions of these cases will determine the ultimate financial and operational impacts.
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Published on: Sep 19, 2025, 3:24 PM IST
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