NSE/BSE Codes: NSE: TENNIND, BSE: 544612
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure regarding receipt of a show cause notice from the Maharashtra Goods and Services Tax department under Regulation 30 of SEBI LODR Regulations.
Involved Parties / Authorities:
- Deputy Commissioner of State Tax, Department of Goods and Services Tax, Maharashtra
- Tenneco Clean Air India Limited (the Company)
Date / Timeline of Event:
- Show Cause Notice Date: September 29, 2026
- Notice Received Date: October 5, 2026
- Disclosure Filed Date: October 6, 2026
- Financial Year in Question: FY 2022-23
Brief Description of Outcome / Dispute:
The Company received a show cause notice under Section 73(1) of the Maharashtra Goods and Services Tax Act, 2017, primarily alleging excess availment of input tax credit amounting to ₹285,488,700 for the financial year 2022-23.
Impact of Outcome:
Financial Impact:
The notice demands:
- Principal amount: ₹285,488,700 (excess input tax credit)
- Interest: ₹224,429,799
- Penalty: ₹57,117,740
- Total potential financial implication: ₹567,036,239
The Company states that this is a preliminary notice and does not constitute a final order or confirmed demand. Accordingly, the Company does not presently envisage any material impact on its financial position.
Operational / Business / Strategic Impact:
No material operational, business, or strategic impact is currently envisaged as the notice is at a preliminary stage.
Other Implications:
The Company believes it has adequate factual and legal grounds to contest the allegations and is preparing a detailed response supported by relevant reconciliations, records, and legal submissions.
Next Steps / Required Actions:
The Company is in the process of preparing a detailed response to the show cause notice, which will be filed within the prescribed timeline as required by the GST authorities.