Regulation, Compliance & Legal › Sub-category
Tax / GST / Customs Action
57 articles
Tax disputes and assessments are impacting several Indian companies, creating uncertainty and potential financial exposures. Nectar Lifesciences faces a remanded GST dispute with a potential ₹89.32 crore demand, while Skipper Limited is contesting a rectified notice totaling ₹40.96 crore after an initial demand of ₹227.53 crore. Emcure Pharmaceuticals has received a ₹57.74 crore income tax penalty, and ideaForge Technology is appealing a ₹1091.72 crore GST demand. While some companies, like Aether Industries and Bajaj Electricals, have seen favorable outcomes with notices dropped or liabilities reduced, the ongoing scrutiny highlights the risk of tax-related challenges for Indian businesses and could influence investor sentiment.
Nectar Lifesciences GST Litigation Remanded by High Court
Nectar Lifesciences discloses High Court order remanding GST dispute back to appellate authority for fresh consideration.
Potential financial exposure includes ₹89.32 crore demand with interest and pe
Skipper GST Demand Reduced to ₹40.96 Crore
Skipper Limited discloses a rectified GST show cause notice reducing the proposed demand from ₹227.53 crore to ₹40.96 crore.
The company contests the rectified demand as erroneous and not tenable, sta
Emcure Receives ₹577 Crore Income Tax Penalty
Emcure Pharmaceuticals discloses regulatory orders from the Income-tax Department imposing an aggregate penalty of ₹57.74 crore.
The penalty covers financial years 2014-15 to 2020-21 (assessment years
ideaForge Receives ₹1091.72 Cr GST Demand Order
ideaForge Technology received GST demand order for ₹545.86 crore tax and equal penalty totaling ₹1091.72 crore for 2022-24 period.
Company disputes claim, citing government clarification that drone GS
Aether Industries GST Notice Dropped Without Impact
Aether Industries received a GST demand and show cause notice for ₹4.26 crore disallowing tax credit on IPO expenses.
The Additional Commissioner, CGST & Central Excise, Surat, has now dropped all pro
DIC India Receives DRP Directions on Tax Dispute
DIC India received directions from the Dispute Resolution Panel-2 on September 30, 2026, regarding a transfer pricing dispute for AY 2023-24.
The DRP did not accept most of the company's objections to
Bajaj Electricals GST Appeal Reduces Liability to ₹1.28 Lakh
Bajaj Electricals received a favorable GST appellate order annulling a ₹32.50 lakh penalty and reducing interest liability from ₹8.46 lakh to ₹1.28 lakh for FY 2017-18.
The appellate authority in Ranc
Bajaj Electricals Wins ₹29.63 Lakh GST Appeal
Bajaj Electricals discloses favorable GST appellate order setting aside ₹29.63 lakh demand from Jharkhand authority.
Appellate Commissioner dropped entire gross demand including ₹2.69 lakh penalty for
AYM Syntex Receives ₹2.32 Crore GST Show Cause Notice
AYM Syntex received a GST Show Cause Notice from Maharashtra tax authorities for FY 2022-23, proposing total dues of ₹2.32 crore.
The notice cites audit objections including delayed payments, disallow
Yatra Online Receives GST Show Cause Notices
Yatra Online Limited and its subsidiary received GST show cause notices totaling ₹70.66 crore in tax, interest, and penalty demands for FY 2022-23.
The Maharashtra notice demands ₹39.86 crore alleging
Eureka Forbes UP GST Notice Reduced to ₹4.5 Crore
Eureka Forbes discloses a favorable rectification order from UP GST authorities, reducing a tax liability notice from ₹273.40 crore to ₹4.50 crore.
The company maintains the rectified notice is withou
NCLAT Adjourns Patanjali Foods Customs Appeal
NCLAT adjourns Patanjali Foods Ltd's customs appeal hearing to November 2026 due to time constraints.
The appeal challenges an order by the Additional Commissioner of Customs against the company.
The
SRIT India Limited Files ₹2.18 Billion IPO for Expansion
SRIT India Limited proposes an IPO of 16.8 million shares at ₹130 each to raise ₹2.184 billion for capital expenditure, working capital, and strategic acquisitions.
The IT/ITeS company reported strong
5paisa Capital Receives ₹15.31 Crore GST Demand Notice
5paisa Capital Limited received a GST Show Cause cum Demand Notice for ₹15.31 crore from the Principal Commissioner of CGST & C. Excise, Mumbai East.
The notice alleges excess and ineligible Input Tax
Advance Agrolife Receives ₹3.23 Cr GST Demand Notice
Advance Agrolife received a GST show cause-cum-demand notice from Rajasthan tax authorities for FY 2022-23.
The notice alleges short payment of GST totaling ₹3.23 Cr including tax, interest, and penal
Emmvee Subsidiary Receives ₹38.4 Crore GST Show Cause Notice
Emmvee's material subsidiary received a GST show cause notice alleging excess input tax credit of ₹20.4 crore for FY 2022-23.
The Karnataka State GST Department demands ₹38.44 crore including interest
SRF Receives ₹266 Crore GST Show Cause Notice
SRF Limited received a GST show cause notice dated September 29, 2026, for alleged ineligible Input Tax Credit of ₹266.32 crore for FY2022-23 and FY2023-24.
The notice was issued by the Additional Com
Mold-Tek Packaging Receives ₹36 Lakh Tax Demand
Mold-Tek Packaging discloses receipt of an income tax demand notice for ₹36.05 lakh for AY 2021-22.
The demand stems from an order under Section 270A of the Income Tax Act, 1961, received on September
Valiant Organics Receives ₹22.15 Lakh Tax Rectification Order
Valiant Organics received a rectification order from the Income Tax Department for AY 2015-16 pertaining to an amalgamated entity.
The order determines a net tax payable of ₹22.15 lakhs related to ers
Skipper Limited Disputes ₹227.53 Crore GST Notice
Skipper Limited received a GST show cause notice demanding ₹227.53 crore for alleged mismatches in GST returns.
The company strongly disputes the demand, citing erroneous findings and incorrect applic
KEI Industries Receives ₹17.1 Lakh GST Demand Order
KEI Industries received a GST demand order for ₹8.55 lakh tax plus equal penalty from Ahmedabad Central GST authority.
The demand is for alleged non-payment of tax on unbilled revenue during FY 2022-2
WeWork India Gets ₹11 Cr GST Demand Notice
WeWork India disclosed receipt of a show cause cum demand notice from GST authorities under SEBI LODR Regulation 30.
The notice demands disallowance of ITC worth ₹11.01 crores for alleged discrepancie
ICICI Bank Receives ₹229 Crore GST Demand Notice
ICICI Bank received a GST demand notice for ₹229.14 crore from Mumbai tax authorities on October 1, 2026.
The demand relates to services provided to customers maintaining minimum account balances, wit
ICICI Lombard GST Appeal Partially Allowed
ICICI Lombard received appellate order partially allowing its GST appeal, reducing original demand.
Revised GST demand set at ₹3.34 lakh with ₹97,751 penalty for July 2017-March 2020 period.
Company p
Dreamfolks Receives ₹1.87 Crore GST Show Cause Notice
Dreamfolks Services received a GST show cause notice dated September 30, 2026, for FY 2022-23 ITC discrepancies.
The notice demands ₹1.87 crore total comprising tax of ₹1.71 crore and penalty of ₹17.0
Nuvoco Subsidiary Receives ₹25 Crore GST Show Cause Notice
Nuvoco Vistas discloses GST show cause notice to subsidiary NU Vista Ltd proposing ₹24.99 crore tax demand for FY23.
Notice alleges incorrect turnover calculation and denies input tax credit due to ra
Mahindra Holidays Receives ₹36.3 Cr GST Show Cause Notice
Mahindra Holidays received a GST show cause notice from Mumbai State Tax authorities demanding ₹36.3 crore for FY 2022-23.
The notice includes tax of ₹19.1 crore, interest of ₹15.3 crore, and penalty
Ramco Systems Philippines Tax Dispute Settled at PHP 3M
Ramco Systems' Philippine subsidiary settled a major tax dispute, reducing its liability from PHP 72.40 million to PHP 3.00 million.
The final demand of PHP 3 million (approx. ₹4.60 crore) was paid on
YES BANK Receives ₹363 Crore Income Tax Refund
YES BANK received a consolidated income tax refund order for ₹363 Crores from the Jurisdictional Assessing Officer on September 30, 2026.
The refund results from successful appeals against assessment,
OnEMI Subsidiary Receives ₹44.05 Cr GST Show Cause Notice
OnEMI's subsidiary Si Creva Capital Services received a GST show cause notice for FY 2022-23 demanding ₹44.05 crore.
The notice alleges five GST contraventions including ITC reversal discrepancies and
Greenlam Subsidiary Receives ₹77.35 Crore GST Notice
Greenlam Industries discloses receipt of GST show cause notice for subsidiary Greenlam Limited.
Andhra Pradesh GST authority alleges ₹77.35 crore ineligible input tax credit for FY 2022-23.
Company is
Adroit Industries India Limited ₹1.5B IPO Launch
Adroit Industries launches IPO of 11.25M shares at ₹134 per share, comprising fresh issue of 9.9M shares (₹1,326M) and offer for sale of 1.35M shares (₹181M) aggregating ₹1,507M.
Company manufactures
National Traders' Welfare Board Reviews GST, MSME Reforms
NTWB's 11th meeting reviewed GST rationalisation, refund delays, and amnesty schemes for trader welfare.
Discussed MSME inclusion, centralized loan portal with 30-day timelines, and CIBIL score mechan
Elitecon International FY26 Revenue Jumps 9.2x to ₹5,075 Cr
Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, showing 9.2x revenue growth to ₹5,074.80 crore and 2.7x PAT growth to ₹185.06 crore.
Appointed
Puravankara Reports FY26 ₹70.35 Crore Profit Turnaround
Puravankara Limited reported a standalone net profit of ₹70.35 crore for FY26, a significant improvement from a ₹198.75 crore loss in FY25, driven by 151% revenue growth to ₹2,302.61 crore.
The compan
Country Club Hospitality FY26 Results Show Mixed Performance
Company reported standalone net profit of ₹42.96 lakhs versus loss of ₹169.91 lakhs previous year, while consolidated net loss widened to ₹1,763.40 lakhs.
Thirty Fifth AGM scheduled for September 30,
Technocraft Ventures FY26 Revenue Jumps 23% with Bonus Issue
Technocraft Ventures reported FY26 revenue of ₹34,499.55 lakhs, up 23.4% YoY, with net profit surging 53.6% to ₹4,331.50 lakhs.
The company executed a 3:1 bonus share issue and recommended a final div
Eros International Media FY26 Net Loss ₹1,337 Crore
Eros International Media reported a consolidated net loss of ₹1,337.4 crore for FY26, a 216% decline from previous year's profit, with revenue falling 53% to ₹29.4 crore.
The company faces material un
Sahara Group Entities Report Widening Losses, Regulatory Issues
Sahara One Media reported FY26 standalone net loss of ₹80.02 thousand with zero operational revenue, worsening from ₹60.72 thousand loss in FY25 amid material going concern uncertainties.
Sahara Sanch
Hariom Pipe Industries FY26 Revenue Up 23% to ₹1,667 Cr
Hariom Pipe Industries reported 23% revenue growth to ₹1,667 crore and 23% PAT increase to ₹76 crore in FY 2025-26 with EPS of ₹24.49.
The company expanded MS tubes capacity to 2,16,000 MTPA and incre
Citichem India Limited 2025-26 Annual Report
Citichem India Limited issued its Annual Report for FY 2025-26 and notice for its 34th AGM scheduled for 30 September 2026.
Revenue from operations declined to ₹9.48 crore from ₹18.70 crore YoY, with
Citichem India 34th AGM Notice and FY26 Results
Citichem India schedules 34th AGM for September 30, 2026, to adopt FY26 financial statements and reappoint director Wasim Rizvi.
FY26 financial performance shows revenue decline to ₹9.48 crore and net
Xelpmoc Design FY26 Net Loss Narrows to ₹74.2M
Xelpmoc Design reported a reduced net loss of ₹74.2 million for FY26, down from ₹86.2 million in FY25, with revenue declining to ₹37.4 million entirely from corporate clients.
The company recognized s
Concord Drugs FY26 Profit Surges 251% at AGM
Concord Drugs reported 251% net profit growth to ₹1.04 crore and 105% revenue increase to ₹75.85 crore in FY26 standalone results.
The company will hold its 31st AGM on September 30, 2026 to approve f
Tera Software FY26 Revenue Surges 121% to ₹238 Cr
Tera Software reported 121% revenue growth to ₹238.05 crore and 163% PAT increase to ₹24.80 crore in FY26, with board recommending ₹1.20 dividend per share.
The company will hold its 32nd AGM on Septe
Creative Newtech FY26 Revenue Surges 51% to ₹2,717.51 Crore
Creative Newtech reported robust FY26 performance with 50.85% revenue growth to ₹2,717.51 crore and 32.35% PAT growth to ₹70.29 crore driven by expanded partnerships and government orders.
The company
Midwest Limited FY26 Results: ₹976M Profit, IPO Completion
Midwest Limited reported FY26 standalone net profit of ₹976.28 million and consolidated net profit of ₹1,064.76 million, with revenue reaching ₹4,217.71 million and ₹6,456.18 million respectively.
The
Midwest Limited FY26 Results: 16% PAT Margin, IPO, Minerals Pivot
Midwest Limited reported FY26 standalone revenue of ₹4,217.71 crore and PAT of ₹976.28 crore with 16% margin, while completing a ₹250 crore IPO in October 2025.
The company is pivoting from granite to
Oval Projects Engineering FY26 Results Show Strong Post-IPO Growth
Oval Projects Engineering reported 49.7% revenue growth to ₹153.14 crore and 58.6% PAT increase to ₹14.81 crore in its first year as a listed company.
The company completed its IPO raising ₹46.74 cror
Som Distilleries FY26 Profit Plunges 90% on License Suspension
Som Distilleries reported a 90% decline in consolidated PAT to ₹10.09 crore for FY26 due to regulatory disruptions and input cost pressures.
The company's Bhopal manufacturing license was suspended in
Porwal Auto Components FY26 Profit Jumps to ₹9.93 Crore
Porwal Auto Components reported FY26 net profit of ₹9.93 crore, a massive increase from ₹0.16 crore in FY25, with EPS rising to ₹6.57 from ₹0.11.
The company convened its 34th AGM on 28th September 20
Jamna Auto Industries Reports Record FY26 Results, Declares Dividend
Jamna Auto Industries achieved record FY26 performance with 15% revenue growth to ₹2,612 crore and 28% profit increase to ₹231 crore, maintaining strong 15.1% EBITDA margin.
The company declared total
Jagatjit Industries FY26 Net Profit ₹10.48 Crores on Property Sale
Reported consolidated net profit of ₹989 lakhs for FY26, a significant improvement from ₹2,345 lakhs loss in FY25, driven by ₹9,530 lakhs property sale gain.
Strategic deleveraging through Gurugram pr
MTNL Reports ₹3,102 Crore FY26 Loss, Negative Net Worth
MTNL reported a standalone net loss of ₹3,102 crore for FY26 with fully eroded net worth of ₹29,975 crore, raising significant going concern concerns.
Auditors issued adverse opinion citing 20 materia
Virtuoso Optoelectronics Q1 Net Profit at ₹8.38 Crore
Virtuoso Optoelectronics reported Q1 FY27 standalone net profit of ₹8.38 crore on revenue of ₹375.47 crore.
Board approved conversion of ₹9.99 crore inter-corporate deposit into 17,452 equity shares o
Godavari Biorefineries Reports FY26 Revenue Growth to ₹1,964.92 Crore
Godavari Biorefineries reported standalone revenue growth of 6.03% to ₹1,964.92 crore in FY26, returning to profitability with ₹1.24 crore net profit after previous year's loss.
The company completed
Niraj Cement Structurals Reports 6.9% Revenue Growth in FY26
Niraj Cement Structurals reported FY26 revenue growth of 6.9% to ₹54,203.23 lakh and net profit increase of 39.6% to ₹2,116.88 lakh.
The company will hold its 28th AGM on September 28, 2026 to approve