GST Show Cause Notice of ₹ 7,82,42,083 Disclosed as Material Pending Litigation
Karnataka GST authority has issued a Show Cause Notice for FY April 2022–March 2023, raising an additional tax demand.
By ScoutQuest · · 1 min read
- Financial Implication
- ₹ 7,82,42,083 (including interest and penalty)
- Tax Period
- April 2022 – March 2023
- Authority
- Deputy Commissioner, Karnataka GST Authority
- Notice Type
- Show Cause Notice under Section 73(1) of CGST read with Karnataka GST Act & Rules 2017
- Current Status
- Company is in the process of update its reply
What was disclosed
The company has disclosed details of a material pending litigation under Regulation 30 of SEBI LODR.
- Opposing party: Deputy Commissioner, Karnataka GST Authority
- Nature: Show Cause Notice issued under Section 73(1) of CGST read with the Karnataka GST Act & Rules 2017
- Period involved: tax period April 2022 to March 2023
- Ground: an additional tax demand on various grounds
- Quantum of claims: 1
Amount involved
The expected financial implication stated is ₹ 7,82,42,083, which includes interest and penalty.
Current status
The company is in the process of update its reply to the Show Cause Notice. A Show Cause Notice is a preliminary step in which the tax authority asks the company to explain why the demand should not be raised; the matter is at the reply stage and the proceedings are pending.
What it means for investors
Disclosures of this kind indicate a contingent tax exposure whose final outcome depends on how the authority decides after considering the company's response and any further appeals. Investors may track subsequent updates on the progress of the proceedings.
More numbers
- Expected financial implication (incl. interest and penalty)₹ 7,82,42,083
- Quantum of claims1
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