Flair Writing Industries Limited has filed a disclosure pursuant to SEBI Listing Regulation 30 and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. This is a continuation of an earlier intimation dated February 11, 2025 (ref: FWIL/SEC/2024-25/120).
The disclosure concerns a Show Cause Notice received by the company from the Office of the State Tax Officer, Ghatak 70 (Valsad), Range-18, Division-8, Gujarat. The notice was issued under Section 73 of the CGST Act, 2017 and was received by the company on August 31, 2026. It relates to GST scrutiny/audit proceedings for the financial year 2022-23.
Background and Details of Notice
The company had previously received an audit observation for FY 2022-23, which stated an amount aggregating to ₹ 78,80,221. Subsequently, as part of the same proceedings, the company has now received this Show Cause Notice. The notice quantifies a demand aggregating to ₹ 26,27,665. This amount comprises:
- Tax: ₹ 14,89,386
- Interest: ₹ 9,89,341
- Penalty: ₹ 1,48,938
Company's Response and Financial Impact
The company states it will submit its reply and submissions before the relevant authorities and pursue the matter on merits.
Regarding financial impact, the disclosure explicitly states: "There is no material impact on the financials, operations or other activities of the Company pursuant to the said Show Cause Notice." Any potential financial impact is stated to be limited to the extent of the final liability, if any, as determined upon adjudication, which would comprise tax, interest, and penalty.
The document was signed by Mr. Vishal Kishor Chanda, Company Secretary & Compliance Officer.