GST Show Cause Notice of Rs. 1,77,144 received for FY 2022-23
A GST Show Cause Notice (DRC-01) u/s 73 has been received from the Joint Commissioner of Commercial Taxes, Bhiwadi, Rajasthan, for FY 2022-23 (April 2022 – March 2023).
- Total Demand Amount
- Rs. 1,77,144
- Tax Component
- Rs. 1,03,336
- Interest Component
- Rs. 73,808
- Financial Period
- FY 2022-23 (April 2022 – March 2023)
- Issuing Authority
- Joint Commissioner of Commercial Taxes, Bhiwadi, Rajasthan
What was received
The company disclosed receipt of a Show Cause Notice in Form DRC-01 under Section 73 of the CGST/RGST Act, 2017, issued by the Office of the Joint Commissioner of Commercial Taxes, Bhiwadi, Rajasthan.
Why
The notice relates to input tax credit wrongly availed or utilized for the period April 2022 – March 2023.
Amounts involved
- IGST: tax 1,03,336 plus interest 73,180, total Rs. 1,76,516
- SGST: interest 314
- CGST: interest 314
- Total: tax 1,03,336 plus interest 73,808 = Rs. 1,77,144
Company's position
The company states there is no impact on its financials, operations or other activities, and that it will file an appropriate response to the notice within the prescribed timelines.
How to read it
A Section 73 notice is issued in cases not involving fraud, and asks the taxpayer to explain why the stated amount should not be recovered. It is a preliminary step, and the company can contest it. The amount here is small in absolute terms.
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More numbers
- Total demand (tax + interest)1,77,144
- Tax component1,03,336
- Interest component73,808
- IGST total with interestIGST: Rs. 1,76,516
- SGST interestSGST: Rs. 314
- CGST interestCGST: Rs. 314
- IGST interest73,180
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