Key Quantitative Figures
The Show Cause Notice involves a total financial demand of ₹24,99,618 broken down as follows:
- SGST: ₹40,254 (Tax: ₹24,782 + Interest: ₹15,472)
- CGST: ₹40,254 (Tax: ₹24,782 + Interest: ₹15,472)
- IGST: ₹24,19,110 (Tax: ₹14,89,298 + Interest: ₹9,29,812)
- CESS: ₹0
- Total Tax: ₹15,38,862
- Total Interest: ₹9,60,756
- Late Fee: ₹0
Parties Involved
- Issuing Authority: Office of the Assistant Commissioner of Commercial Taxes, Bengaluru, Karnataka
Reason for Notice
The notice was issued under Section 73 of KGST/CGST Act, 2017 for "determination of tax not paid or short paid or input tax credit wrongly availed or utilized for any reason other than fraud or any wilful misstatement or suppression of facts."
Financial Impact
As explicitly disclosed: "There is no impact on financials, operations or other activities of the Company" and "There is no major impact on financial, operation or other activities of the Company due to this Show Cause Notice."
Company Action
The Company will "file appropriate response to the said Show Cause Notice within the prescribed timelines."
Disclosure Delay
The disclosure was delayed by 3 days (received September 18, disclosed September 21) due to "an inadvertent oversight" as stated in the annexure.