GRSE Receives ₹10.19 Lakh GST Penalty for FY 2018-19
New Delhi: Garden Reach Shipbuilders & Engineers Limited (GRSE) has informed the BSE and NSE about the imposition of a penalty by the Government of West Bengal – Commercial Taxes (GST) Department related to the financial year 2018-19.
The penalty arises from non-reversal of input tax credit (ITC) for certain credit notes, cancellation of GSTINs of suppliers, and non-filing of GSTR-3B returns by suppliers. The total penalty and interest levied amount to ₹10.19 lakh.
Key Details of the Order
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Authority: Government of West Bengal – Commercial Taxes (GST)
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Nature of Action: Appeal order passed requiring reversal of ITC along with payment of interest and penalty.
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Date of Receipt: February 13, 2026
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Impact: GRSE stated there is no material impact on the company’s finances, operations, or other activities. The company intends to assess its rights to appeal against the order.
Company Statement
Sandeep Mahapatra, Company Secretary and Compliance Officer, confirmed that the company will explore the appeal process and emphasized that the order does not affect ongoing operations.
GRSE, a leading Indian shipbuilding and defense engineering firm, continues its focus on naval and offshore projects without disruption.