NSE/BSE Codes: BSE: 543482, NSE: EUREKAFORB

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure pursuant to Regulation 30 of the SEBI Listing Regulations regarding the receipt of a Show Cause Notice (SCN) from a GST Authority.

Involved Parties / Authorities:

  • Issuing Authority: Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh
  • Recipient: Eureka Forbes Limited

Date / Timeline of Event:

  • Date of SCN: September 25, 2026
  • Date of Receipt: September 25, 2026 (after office hours)
  • Date of Disclosure: September 28, 2026 (first working day following receipt)
  • Financial Year in Question: 2022-23

Brief Description of Outcome / Dispute:

A Show Cause Notice was issued under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017. The notice alleges a tax liability of ₹149.21 crore, interest of ₹109.27 crore, and a penalty of ₹14.92 crore, aggregating to a total demand of ₹273.40 crore for the financial year 2022-23.

The company's initial review indicates that the proposed demand appears to have been computed with reference to pan-India level financial information from the signed financials for FY 2022-23, without establishing the corresponding transaction-level liability attributable to the company's Uttar Pradesh GST registration.

Impact of Outcome:

Financial Impact:

The alleged financial implication is a total demand of ₹273.40 crore, broken down as:

  • Tax: ₹149.21 Crore
  • Interest: ₹109.27 Crore
  • Penalty: ₹14.92 Crore

The company states it does not envisage any material impact on its financials from this SCN.

Operational / Business / Strategic Impact:

The company states it does not envisage any material impact on its operations or other activities arising from this SCN.

Other Implications:

No material disclosures in this section.

Next Steps / Required Actions:

The company intends to contest the notice comprehensively within the prescribed timelines. It is of the considered view that the SCN is devoid of merits and not sustainable on facts, in law, or in procedure.