Nature of Disclosure: Regulatory filing pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding receipt of a GST demand and show cause notice.

Details of Notice Received:

  • Authority: Commissioner, CGST Commissionerate, Noida.
  • Reference Number: Demand cum Show Cause Notice No. 18/AE/ADC/2026-27.
  • Date of Issuance: 29th August, 2026.
  • Date of Physical Receipt: 29th August, 2026 (a Saturday).
  • Date of Knowledge: 31st August, 2026 (as Saturday and Sunday were non-working days).

Nature and Details of the Order:

The notice is a Demand cum Show Cause Notice issued under:

  • Section 74/Section 74A of the Central Goods and Services Tax Act, 2017.
  • Section 74/Section 74A of the Uttar Pradesh Goods and Services Tax Act, 2017.
  • Read with section 20 of the Integrated Goods and Services Tax Act, 2017.

Specific Allegations and Financial Amount:

The notice pertains to the financial period from FY 2020-21 to FY 2026-27 (up to June 2026). The primary allegation is that the company availed Input Tax Credit (ITC) amounting to ₹16,74,60,039 (₹16.75 crore) from suppliers whose GST registrations had been cancelled by the tax department.

Current Status and Company's Response:

The notice is stated to be at a preliminary stage, and no final determination has been made by the adjudicating authority. The company's position is that the availed ITC was in accordance with applicable GST provisions. The company is in the process of obtaining appropriate legal advice and plans to submit a detailed response to the authority within 30 days from the date of receipt (by ~28th September 2026). The company states it will pursue all remedies available under applicable law.

Financial and Operational Impact:

As per the disclosure, the management does not expect any immediate impact on the company's operations arising from the receipt of this notice. Any financial implications will be determined only upon the completion of the adjudication process and in accordance with applicable legal and accounting standards.