Nature of the Event
The company received a notice in Form GST ASMT-10, which intimates discrepancies identified during a scrutiny of the company's GST return for the Financial Year 2022-23. The company clarifies that these observations are preliminary queries and do not constitute a final determination of liability.
Details of the Notice
- Issuing Authority: Office of the Superintendent, Central Goods and Services Tax, Range-5, Division-1, Noida, GST Bhawan, C-232 A/2-A/3, Sector-48, Noida, Uttar Pradesh-201301.
- Date of Receipt: May 25, 2026.
- Nature of Alleged Contraventions:
- Alleged excess availment of input tax credit (ITC), primarily due to reconciliation differences between various GST returns and underlying data.
- Alleged short payment of tax on outward supplies, due to differences between supplies reported in GST returns and e-way bill (EWB-01) data.
- Alleged availment of ineligible ITC for transactions where the place of supply was other than Uttar Pradesh, based on a different interpretation of the place of supply rules.
- A requirement to furnish supporting documents, reconciliations, and additional information, including details on credit notes, reversals, and export-related remittances.
Financial Impact
The disclosed financial exposure quantified in the notice is approximately INR 2,64,20,074 (₹2.64 crore). This amount is exclusive of any applicable interest and penalties.
Company's Response and Status
The company states it is a law-abiding entity that has complied with statutory requirements. It is currently assessing the matter with the assistance of legal counsel and intends to file an appropriate response within the prescribed timelines. The disclosure emphasizes that this is a preliminary stage of scrutiny.