Background and Previous Disclosure
HEG Advanced Materials Limited had previously disclosed on November 10, 2025, the receipt of a show-cause notice from the Office of the Deputy Commissioner of State Tax (SGST), Mandideep Circle, Bhopal Division-2. The notice proposed recovery of IGST refunds along with a penalty amounting to ₹282.34 crore for the tax period FY 2020-21.
Current Development
On October 15, 2026, the GST authority issued an order dropping the proceedings under Section 74 of the MPGST Act, 2017 read with Section 74 of the CGST Act, 2017 for FY 2020-21. The decision was made based on information available on record with the authority.
Authority Details
- Name: Mandideep Circle, Bhopal Division-2, Bhopal Zone, Madhya Pradesh
- Specific Office: Office of the Deputy Commissioner of State Tax (SGST), Mandideep Circle, Bhopal Division-2
Order Details
- Date of Order: October 15, 2026
- Nature of Order: Proceedings dropped under Section 74 of MPGST Act, 2017 read with Section 74 of CGST Act, 2017
- Period Covered: FY 2020-21
- Reason for Dropping: Based on information available on record
Violation Details
The original show-cause notice had alleged violations related to IGST refunds and proposed recovery of ₹282.34 crore (including penalty). These proceedings have now been completely dropped for FY 2020-21.
Financial Impact
As explicitly stated in the disclosure: Nil impact on the financial, operational or other activities of the listed entity, quantifiable in monetary terms.