NSE/BSE Codes: BSE: 509243 | NSE: TVSSRICHAK

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, regarding receipt of a Show Cause Notice from the GST Department.

Involved Parties / Authorities:

  • Issuing Authority: Deputy Commissioner of State Tax, Bhiwandi, Mumbai
  • Listed Entity: TVS Srichakra Limited

Date / Timeline of Event:

  • Date of Notice Receipt: September 28, 2026
  • Assessment Year: 2022-23 (FY 2022-23)
  • Date of Disclosure Filing: September 29, 2026

Brief Description of Outcome / Dispute:

The company has received a show cause notice under GST law alleging excess availment of Input Tax Credit (ITC) in GSTR-3B compared to GSTR-2B for the financial year 2022-23. The notice specifically records that no response was furnished by the taxpayer, though the company states it had already submitted its response/representations which appear not to have been considered.

Impact of Outcome:

Financial Impact:

The notice proposes a total demand aggregating to approximately ₹17.53 crore, comprising:

  • Tax: ₹8.05 crore
  • Interest: ₹7.78 crore
  • Penalty: ₹1.70 crore

The financial impact, if any, will be subject to adjudication and disposal of the matter by the appropriate authority. No final penalty, restriction, or sanction has been imposed as of the disclosure date.

Operational / Business / Strategic Impact:

The matter requires the company to allocate resources for preparing a detailed response and potentially pursuing legal remedies. The disclosure indicates potential compliance process reviews but no operational disruption is mentioned.

Other Implications:

The matter could have reputational implications regarding tax compliance practices, though the company maintains it has valid grounds for its position.

Next Steps / Required Actions:

The company is evaluating the contents of the notice and is in the process of filing a detailed response before the concerned authority within the prescribed timeline. The company will pursue appropriate legal remedies and believes it has valid grounds to substantiate its position.