Date: September 29, 2026
Regulatory Disclosure Details
Nature of Notice:
- The company received a Show Cause Notice (DRC 01) under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017 for the Financial Year 2022-23.
- The notice was issued by the Deputy Commissioner, Gautambuddha Nagar, Uttar Pradesh.
- Total demand raised: INR 17.49 crore, comprising:
- Tax demand: Not separately quantified
- Interest: INR 6.92 crore
- Penalty: INR 0.96 crore
Alleged Violations:
The demand has been raised on account of:
- Credit notes issued during the year
- Input tax credit claimed under reverse charge mechanism
- Other input tax credit matters
Company's Response and Impact Assessment:
- The company states there is no impact on financial, operations or other activities
- The company believes it has legal and factual grounds in this matter
- The company will be taking all necessary actions to defend its position before the relevant authorities
Timeline:
- Date of receipt: September 29, 2026
- Financial year in question: 2022-23
Regulatory Context:
- Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Read with Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026
Poonam Bhasin, Company Secretary