{"url":"https://newsforagent.com/news/2026-11-07/hd-fire-protect-gst-demand-waived","markdown_url":"https://newsforagent.com/news/2026-11-07/hd-fire-protect-gst-demand-waived.md","title":"HD Fire Protect Wins Full Waiver of ₹7.10 Crore GST Demand","headline":"HD Fire Protect Gets Jalgaon Order Dropping ₹7.10 Crore GST Demand for FY23","description":"HD Fire Protect received a November 6, 2026 order from the Jalgaon Deputy Commissioner dropping a ₹7,10,16,525 GST demand for FY2022-23 with nil liability.","section":"Legal & Disputes","published_at":"2026-11-07T13:18:04+00:00","modified_at":"2026-11-07T13:18:04+00:00","author":"News Desk","key_takeaways":["The Deputy Commissioner of State Tax, Jalgaon dropped all GST proceedings against HD Fire Protect for F.Y. 2022-23 in an order dated November 6, 2026.","The demand of ₹7,10,16,525, covering tax, interest and penalty, was waived with a final liability of nil.","The authority accepted HD Fire Protect's reply to a show cause notice dated September 29, 2026 and ruled the input tax credit was correctly availed."],"companies":[{"name":"HD Fire Protect","is_primary":true,"profile_url":"https://akta.pro/company-profiles/000erbf/hd-fire-protect","website":"https://www.hdfire.com"}],"source":{"publisher":"ScanX","title":"HD Fire Protect receives order dropping ₹7.10 crore GST demand for FY23","url":"https://scanx.trade/stock-market-news/companies/hd-fire-protect-receives-order-dropping-7-10-crore-gst-demand-fy23/55599719"},"other_sources":[],"tags":["Legal & Disputes","HD Fire Protect"],"body_markdown":"HD Fire Protect Limited received an order from the Deputy Commissioner of State Tax, Jalgaon dropping all GST proceedings for F.Y. 2022-23 and waiving a demand of ₹7,10,16,525, with no tax, interest or penalty payable. [ScanX](https://scanx.trade/stock-market-news/companies/hd-fire-protect-receives-order-dropping-7-10-crore-gst-demand-fy23/55599719) reported the order, dated November 6, 2026.\n\n## How the Jalgaon GST Order Was Decided\n\nThe proceedings followed a show cause notice issued under Section 73(9) of the CGST Act, 2017 and the MGST Act, 2017, read with Section 20 of the IGST Act, 2017. The dispute concerned allegations that [HD Fire Protect](https://akta.pro/company-profiles/000erbf/hd-fire-protect) had availed excess input tax credit during F.Y. 2022-23.\n\nThe Deputy Commissioner accepted the company's reply to the show cause notice dated September 29, 2026. The authority ruled that the credit had been correctly availed and utilised, and dropped the case entirely.\n\nThe demand of ₹7,10,16,525 comprised tax, interest and penalty. The final demand is nil, and the order closes a matter the company had disclosed in its prospectus.\n\n## HD Fire Protect's Revenue and Distribution Reach\n\nAccording to akta.pro [company records](https://akta.pro/company-data), HD Fire Protect is the second-largest fire protection equipment manufacturer in India by operating income and the largest exporter by value in Fiscal 2024. The same records put revenue at Rs432 crore for Fiscal 2025, up from Rs324 crore in Fiscal 2023, with operating EBITDA of Rs138 crore and PAT of Rs109 crore in Fiscal 2025.\n\nThe company designs and manufactures water-, foam- and gas-based fire-protection systems for industrial, commercial, infrastructure, oil and gas, power, aerospace and data-center customers. Its products are deployed in more than 90 countries, and it is an authorized distributor of Potter products including flow switches, pressure switches and supervisory switches.\n\n## HD Fire Protect's Path to the Listing\n\nHD Fire Protect opened its initial public offering for public subscription on October 13, 2026, closing on October 15, with a pure promoter offer for sale of 2.62 crore shares, Moneycontrol.com reported. The company reported a profit of Rs 23.8 crore and revenue of Rs 109 crore for the quarter ended June 2026, according to the same report.\n\nOn October 21, 2026, HD Fire Protect appointed MUFG Intime India Private Limited as its Registrar and Share Transfer Agent, complying with SEBI LODR Regulation 7(1), ScanX reported. The company filed the intimation with BSE and NSE that day.\n\nZee Business Managing Editor Anil Singhvi evaluated the market debut of HD Fire Protect, which saw a 131x overall subscription across retail and institutional categories, Zee Business reported on October 21, 2026.\n\n## What the Nil Demand Changes\n\nThe order leaves no tax, interest or penalty payable for F.Y. 2022-23, and the company said the outcome has no financial or operational impact on the listed entity.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}