₹116.72 Crore GST Demand Against LG Electronics India Dropped, Company Gets Major Relief

LG Electronics India has received an order from GST authorities dropping a proposed demand of Rs 116.72 crore, including penalty, for the financial year 2021-22. The order was issued on 1 July 2026.

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₹116.72 Crore GST Demand Against LG Electronics India Dropped, Company Gets Major Relief
FPJ Web Desk Updated: Thursday, July 02, 2026, 07:05 PM IST
₹116.72 Crore GST Demand Against LG Electronics India Dropped, Company Gets Major Relief

LG Electronics India has received an order from GST authorities dropping a proposed demand of Rs 116.72 crore. | File Image

Mumbai: LG Electronics India on Thursday announced that GST authorities have dropped a proposed demand of Rs 116.72 crore, including penalty, against the company for the financial year 2021-22.

Adjudication In Company's Favour

The Joint Commissioner GST-Corporate Circle-2, Greater Noida, issued an order on 1 July 2026, deciding the matter in favour of LG Electronics India. The proposed demand had included principal tax of Rs 58.36 crore and an equal penalty amount of Rs 58.36 crore.

Allegations Of Excess ITC

The show cause notice, dated 26 May 2026, was issued under Section 74 of the CGST Act, 2017, and applicable provisions of the Uttar Pradesh GST Act, 2017. It had alleged excess availment of Input Tax Credit (ITC) during FY 2021-22, based on reconciliation differences between GST returns.

No Financial Impact Expected

LG Electronics India stated that there would be no financial, operational, or other material impact on the company following this order. The allegations in the show cause notice have now been adjudicated in its favour.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.

Published on: Thursday, July 02, 2026, 07:05 PM IST

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