Date: September 25, 2026
Regulatory Disclosure Summary
Legal / Regulatory Disclosures
Show Cause Notice Details:
- Received on: September 24, 2026 at 17:36 hrs (IST)
- Issuing Authority: Deputy Commissioner of State Tax, AMBAD_502, Nashik, Maharashtra-422010
- Legal Basis: Section 73(1) of CGST Act, 2017 & MGST Act, 2017
- Period: Financial Year 2022-23
Nature of Dispute:
The show cause notice raises the following concerns:
- Excess Input Tax Credit (ITC) availed in GSTR 3B than available in GSTR 2B/2A
- Short liability declared in GSTR 3B/GSTR 9 compared to liability shown in GSTR 1
- Outward Tax liability discharge in GSTR 3B / GSTR 9 is less than outward tax liability as per E-way bill generated
Financial Implications:
- Total demand: ₹13,34,35,202/- (Rupees Thirteen Crore Thirty-Four Lakh Thirty-Five Thousand Two Hundred Two Only)
- Breakdown: Tax - ₹7,32,16,851/- + Interest - ₹5,28,96,667/- + Penalty - ₹73,21,684/-
Company's Position:
- The company firmly believes it maintains strong legal and factual grounds in this matter
- Will take all necessary actions to present and defend its case before the relevant authorities
- Does not consider it likely that this potential demand will materialize as a claim against the Company
- Currently in the process of preparing a response to the Show Cause Notice
- No expected material financial impact at this stage
Compliance Officer
- Name: Amruta Nihar Avasare
- Designation: Company Secretary & Compliance Officer
- Date of filing: September 25, 2026