19-Aug-2026Today's Market Indicators


Schneider Electric wins appeal, nullifying Rs 1.19 lakh GST order related to ocean freight
(21:30, 19 Aug 2026)
Schneider Electric President Systems Limited announced it has received a favorable Order-in-Appeal under Section 107(11) of the CGST Act, resulting in the complete setting aside of a previous Order-in-Original concerning alleged non-payment of Goods and Services Tax (GST) under the Reverse Charge Mechanism (RCM) on ocean freight. The original order, dated November 19, 2024, pertained to a sum of Rs 1,19,167 for the period July 2017 to March 2020, along with applicable interest and penalty of Rs 1,19,167, which the Appellate Authority has now nullified, effectively dropping the proceedings. The company received notification of this decision on August 19, 2026.