TVS Srichakra receives ₹17.53 crore GST show-cause notice
As filed · TVS Srichakra Limited has informed the Exchange about the show cause notice received by the company
RegulatoryDeterioratingMinormateriality 45 out of 100
What happened
FactTVS Srichakra received a GST show-cause notice for FY 2022-23 from the Deputy Commissioner of State Tax, Bhiwandi, Mumbai, alleging excess input tax credit claimed in GSTR-3B versus GSTR-2B. The notice proposes ₹17.53 crore of tax, interest and penalty; the company is preparing a detailed response and says it has valid grounds to support its position.
Why it matters
CapitSignal interpretationRegulatory action carries direct monetary penalties and can restrict how the business operates until it is resolved.
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Fact- Quantum of penalty and whether it is appealed
- Any restriction placed on operations or licences
- Timeline given by the regulator
- The business revenue continues to grow in line with the plan and remains on track to cross ₹8,500 crore in ann (management committed by FY27)
Evidence
How CapitSignal classified this
- Reasoning:
- The proposed demand could create a financial liability if upheld, although the matter remains at the notice stage and no final order, penalty, restriction or sanction has been imposed.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%