Bannari Amman Sugars Receives ₹51.9 Crore GST Notice

Date: 14th November 2026

Bannari Amman Sugars Limited has received a Show Cause Notice from GST authorities, disclosed in compliance with SEBI LODR Regulation 30.

Issuing Authority: Office of the Assistant Commissioner of Commercial Taxes (Audit)-1, Mysore, Commercial Taxes Department, Government of Karnataka
Notice Date: 13th November 2026
Date of Receipt: 13th November 2026 at 5:17 p.m.
Period Covered: April 2022 to March 2023 (FY 2022-23)
Subject Matter: Alleged excess claim of ineligible Input Tax Credit (ITC) under Section 17(5)
Financial Implications:
Proposed Tax: ₹3,00,20,254/-
Proposed Interest: ₹1,89,12,760/-
Proposed Penalty: ₹30,02,025/-
Total Amount in SCN: ₹5,19,35,039/-

Present Status: The company has received the show cause notice and no final adjudication/order has been passed
Company Action: The company is examining the Show Cause Notice in detail and shall submit an appropriate reply before the adjudicating authority within the prescribed time
Company Stance: The company intends to defend the proceedings and contest the proposed tax, interest and penalty
Impact Assessment: The company presently does not anticipate any material impact on its operations

Disclosure Made Under: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Signing Date: 14th November 2024 at 12:29:32 IST