NSE/BSE Codes: NSE: IRFC, BSE: 543257
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure regarding receipt of Show Cause Notice from GST authorities under Section 73 of BGST/CGST Act, 2017.
Involved Parties / Authorities:
- Joint Commissioner of State Tax, Hajipur Circle, Hajipur
- Indian Railway Finance Corporation Limited (IRFC)
Date / Timeline of Event:
- Notice received: 29th September 2026
- Notice period covered: April 2022 to March 2023
- Disclosure filed with exchanges: 30th September 2026
Brief Description of Outcome / Dispute:
The company has received a Show Cause Notice under Section 73 of BGST/CGST Act, 2017 for alleged tax discrepancies. The notice is for the period April 2022 to March 2023 and the issues raised are described as "generic in nature" in the disclosure.
Impact of Outcome:
Financial Impact:
- The notice amount is ₹3,96,90,78,153.59 (Rupees Three Hundred Ninety-Six Crore Ninety Lakh Seventy-Eight Thousand One Hundred Fifty-Three Rupees & Fifty-Nine Paisa Only)
- This amount includes applicable interest and penalty
- Expected financial implications cannot be quantified at this stage as the case is at show cause notice stage and no order has been issued
- The amount represents potential exposure but is not yet a confirmed liability
Operational / Business / Strategic Impact:
- No material operational or business disruption indicated
- Company is engaging with tax advisors to evaluate the notice
- Compliance processes are being followed to address the notice
Other Implications:
- Regulatory compliance requirement under SEBI Listing Regulations
- Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Next Steps / Required Actions:
- Company is evaluating the SCN with tax advisors
- Will file a detailed reply with the adjudicating authority within prescribed timelines
- Will pursue all legal remedies available to it
- The reply filing timeline is not specified but will be within statutory deadlines