NSE/BSE Codes: BSE: 544562, NSE: ADVANCE
Summary of Key Information:
Nature of Event / Disclosure:
Disclosure of receipt of Show Cause-cum-Demand Notice from GST authorities under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Involved Parties / Authorities:
- Office of Deputy Commissioner, Circle-Bagru-dudu, Jaipur-V, Rajasthan
- Services Tax Department, Government of Rajasthan
Date / Timeline of Event:
- Notice received: October 01, 2026 (date of disclosure)
- Financial year in question: 2022-23
- Company is in process of filing reply within stipulated time
Brief Description of Outcome / Dispute:
The company received a show cause notice under Section 73(1) of the CGST Act, 2017 and RGST Act, 2017 read with Section 20 of the IGST Act, 2017 and Section 11 of the Goods and Services Tax (Compensation to States) Act, 2017. The notice alleges short payment of GST for FY 2022-23 arising from differences between e-way bill data and GST returns filed by the Company.
Impact of Outcome:
Financial Impact:
- Proposed GST demand: ₹1.84 Crores
- Interest demand: ₹1.20 Crores
- Penalty demand: ₹18.53 Lakhs
- Total aggregate demand: approximately ₹3.23 Crores
- Company states there is "no material impact on the Company"
Operational / Business / Strategic Impact:
No material operational or business impact disclosed. The company is engaged in the process of responding to the notice.
Other Implications:
The matter represents a regulatory compliance issue with potential implications for the company's tax compliance record.
Next Steps / Required Actions:
- Company is in process of filing a reply to the show cause notice
- Response will be submitted within the stipulated time mentioned in the notice
- The matter remains open for further submissions before relevant authorities