NSE/BSE Codes: BSE: 503806, NSE: SRF
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding receipt of a show cause notice from GST authorities.
Involved Parties / Authorities:
- Additional Commissioner, CGST & Central Excise, Vadodara-II Commissionerate (issuing authority)
- SRF Limited (recipient)
Date / Timeline of Event:
- Show cause notice dated: September 29, 2026
- Company disclosure dated: October 1, 2026
- Financial years involved: 2022-23 and 2023-24
Brief Description of Outcome / Dispute:
The company has received a show cause notice issued under Section 73 of the Central Goods and Services Tax Act, 2017. The notice pertains to alleged disallowance of certain Input Tax Credit (ITC) due to mismatch between ITC claimed in statutory GST returns and ITC reflected in the auto-generated statement available on the GST portal. The department has proposed demand of GST along with applicable interest and penalty.
Impact of Outcome:
Financial Impact:
- The alleged disallowed ITC aggregates to ₹266.32 crore
- The company explicitly states: "will have no financial impact"
- No compensation or penalty quantum specified beyond the base amount
Operational / Business / Strategic Impact:
No material disclosures in this section.
Other Implications:
No material disclosures in this section.
Next Steps / Required Actions:
- The company is reviewing the show cause notice
- Will submit an appropriate response before the concerned authority
- Intends to contest the matter before the appropriate legal forum
- Believes the allegations are not legally tenable