Key Quantitative Figures
Original Demand (5th August 2026): ₹118,33,32,869
- Tax: ₹40,08,66,201
- Interest: ₹38,17,70,313
- Penalty: ₹40,06,96,355
Reduced Demand (15th October 2026 Order): ₹42,04,21,825
- Tax: ₹14,06,89,554
- Interest: ₹13,90,42,717
- Penalty: ₹14,06,89,554
Timeline of Events
- 5th August 2026: Received Show Cause Notice from Karnataka GST Department for period April 2020 – March 2021
- 5th August 2026: Company submitted response with supporting documents within given time limit
- 15th October 2026: Assistant Commissioner of Commercial Taxes, LGSTO LTU, Bengaluru issued Order
- 19th October 2026 at 3:30 pm: Company received the Order
- 19th October 2026: Company filed this disclosure with stock exchanges
Current Status
The Order is open for further submissions to relevant authorities. The company is currently in the process of preparing and submitting a response within the indicated timeframe in the Order.
Financial Impact
The financial impact of the reduced demand of ₹42.04 crore has been quantified in the disclosure. The company has not made any provisions or payments as of this disclosure date.