Key Quantitative Figures
The tax demand proposed is ₹38,386,964 for alleged excess availment of Input Tax Credit (ITC) not reflected in GSTR-2A/2B. Applicable interest of ₹15,541,988 is also demanded, aggregating to ₹53,928,952. No penalty has been proposed at this stage.
Dates of Action
- Date of receipt of communication: August 05, 2026
- Deadline to furnish reply: September 4, 2026
- Personal hearing date: August 25, 2026 at 11:00 A.M.
- Financial year applicable: 2022-23
Parties Involved
- Regulatory Authority: Deputy Commissioner of State Tax, GST Department, Maharashtra
- Interim Resolution Professional: Alok Kumar Murarka (IBBI/IPA-001/IP-P-01934/2019-2020/13006)
Financial Impact Assessment
The company states: "There is no material impact on financials of the Company, no impact on operations or other activities of the Company relating to the show cause notice issued for the said financial year."
Corporate Insolvency Context
The company is presently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The matter shall be dealt with in accordance with the applicable provisions of the Code and other applicable laws.
Company Response Actions
The Company is in consultation with its tax advisors and shall file an appropriate reply within the stipulated timeline and take all necessary legal steps in accordance with the applicable provisions of law.
Additional Information
No aberrations/non-compliances identified by the authority mentioned in the communication. No penalty or restriction or sanction imposed pursuant to the communication.
#Tags: #TVVision #GSTNotice #SEBIDisclosure #RegulatoryCompliance #TaxDispute #CorporateInsolvency