Orchasp Limited received a GST audit spot memo from Hyderabad Central Tax authority covering FY2020-21 to FY2023-24.
Alleged violation is non-payment of GST on import of services under Reverse Charge Mechanism under Section 74 of CGST/SGST Act, 2017.
Quantified financial exposure is ₹12,58,59,446, with interest and penalty not yet quantified; company is evaluating the memo.