Key Quantitative Figures
The Show Cause Notice alleges GST dues of ₹1,21,68,632 (approximately ₹1.22 crore) for FY 2023-24, together with applicable interest and penalty equivalent to the alleged tax dues, if any.
Dates of Action
- Show Cause Notice dated: July 24, 2026
- Disclosure filed with BSE: July 25, 2026
- Applicable period: FY 2023-24
Parties Involved
- Issuing Authority: Assistant Commissioner, Goods and Services Tax, Sriperumbudur, Kancheepuram, Tamilnadu
- Recipient: Jay Ushin Limited
Nature of Allegations
The notice alleges discrepancies in Input Tax Credit (ITC) reconciliation as reflected in the GST returns for FY 2023-24, specifically:
- Unreconciled ITC
- Ineligible ITC for the period FY 2023-24
- Variance in GST returns
Company's Response and Position
The company believes:
- The GST demand along with applicable interest and penalty is not justified based on facts and applicable law
- Its GST returns were correctly filed and had earlier been audited by the CGST Department without any dispute on the issues now raised
- An appropriate reply is being filed before the GST authorities within the prescribed timeline
Financial Impact Assessment
The company states:
- Does not expect any material impact on its financials, operations, or other activities
- Any financial impact, if any, will be limited to the final liability as may be determined upon completion of the adjudication proceedings
Action Taken
The company is filing an appropriate reply before the GST authorities within the prescribed timeline.
Additional Information
No other relevant information provided in the disclosure.