Company Disclosure: GST Assessment Closure
Key Events and Timeline
- March 13, 2026: Received Notice for discrepancy in Form GST ASMT-10 (Ref No: ZD3303261190501)
- April 13, 2026: Submitted detailed reply with supporting documents in Form GST ASMT-11
- July 10, 2026: Received Order in Form GST ASMT-12 (Ref No: ZD3307260814853) from Office of the Assistant Commissioner(ST), Tirunelveli Junction Assessment Circle
- July 10, 2026: Order received by the company
- July 22, 2026: Disclosure filed with BSE
Details of Original GST Notice
The GST ASMT-10 notice dated March 13, 2026 contained three specific discrepancies:
1. Request to pay difference in tax due under RCM head amounting to ₹46,582
2. Request for reconciliation of exempted turnover reported in various returns/statements for FY 2022-23 amounting to ₹172,57,46,725 with supporting documents and HSN codes
3. Explanation required for categorization of Input Tax Credit claimed for FY 2022-23 amounting to ₹1,57,54,050
The notice indicated potential consequences including assessment of higher turnover as taxable, levy of applicable GST on best judgment basis, and reversal of ITC with interest under Section 50(1) of TNGST/CGST Act if explanations were not satisfactory.
Resolution Outcome
The company's reply submitted on April 13, 2026 was fully accepted by the GST authorities. The Order in Form GST ASMT-12 dated July 10, 2026 confirmed that:
- All defects were verified and dropped
- The proceedings are concluded
- No tax demand, penalty, or interest is payable by the company
- The matter stands fully concluded
Financial Impact
There is no impact on financial, operational or other activities of the company as the defects have been verified and dropped and the proceedings are concluded.
Reason for Disclosure Delay
The delay in submission (12 days from order receipt to disclosure) was due to time taken for detailed assessment of the order and evaluation of disclosure requirements applicability. The company has taken steps to prevent such instances going forward.