State-run Maharatna Public Sector Unit Faces Demand for Rs 586 Crore GST Clarification
In a significant development, Bharat Heavy Electricals Limited (BHEL), a Maharatna Public Sector Unit (PSU), has received a Goods and Services Tax (GST) show-cause notice. The notice, issued electronically on September 19, 2025, was dispatched by the TGST department, a specific division within the Commercial Tax Department, under the GST regulations.
The notice, in the form of a show-cause, alleges a tax-related issue and provides BHEL with an opportunity to respond. The amount stated in the notice is a substantial Rs 586 crore.
This news comes as the Indian government continues to crack down on tax evasion and ensure compliance with GST regulations.
Meanwhile, in other business news, the Adani Group has seen a significant boost, gaining over 69k crore in market cap in a single day. This growth is a testament to the group's resilience and growth potential.
Elsewhere, HUDCO (Housing and Urban Development Corporation) has signed an MoU with NBCC for multi-city construction projects. This collaboration is expected to accelerate the pace of infrastructure development in India.
On the international front, former US President Donald Trump has announced a USD 100,000 fee for H1-B visas, a move that could potentially impact Indian workers in the US.
Stay tuned for more updates as these stories continue to unfold. For the latest Business News, Stock Markets, IPO Companies News, and Breaking News, tune into ET Now, a leading news channel that keeps you informed and updated.
In other regulatory developments, SEBI (Securities and Exchange Board of India) has made it easier to transfer securities from nominee to legal heir with changes in capital gains.
Lastly, PhonePe has received RBI approval to operate as an online payment aggregator. This approval is expected to boost the digital payment landscape in India.
India has also imposed import restrictions on a specific chemical until September 2026. This move is part of the government's efforts to ensure domestic production and self-reliance.
As always, stay informed and keep up with the latest news and developments in the business world.
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