5paisa Capital Receives Show Cause Notice for ₹15.31 Crore GST Demand
5paisa Capital Limited received a Show Cause cum Demand Notice from CGST authorities proposing a demand of ₹15.31 crore. This includes alleged excess ITC of ₹2.04 crore, ineligible ITC of ₹0.07 crore, and ₹13.20 crore for excess ITC reversal for FY 2022-23. The company plans to respond within the stipulated time and expects no financial impact.
While the company believes the notice has no merit and expects no financial impact, the proposed demand of ₹15.31 crore is material and could potentially affect the company if the adjudication goes against them. It requires a response and adherence to regulatory processes.
The company has received a significant demand notice from tax authorities, which inherently carries a negative sentiment due to potential financial implications and litigation.
5paisa Capital Limited has received a Show Cause cum Demand Notice (SCDN) from the Principal Commissioner of CGST & C. Excise, Mumbai East, dated September 30, 2026. The notice, issued under Section 73(1) of the Central Goods and Services Tax Act, 2017, pertains to alleged excess availment of Input Tax Credit (ITC) amounting to ₹2.04 crore, ineligible ITC of ₹0.07 crore, and excess ITC to be reversed totaling ₹13.20 crore.
The total proposed demand, including interest and penalty, aggregates to ₹15.31 crore. The notice covers the fiscal year 2022-23.
The company stated that it possesses appropriate documentation to substantiate its position and will submit a response along with the requisite documents and explanations within the prescribed timelines. 5paisa Capital Limited maintains that the SCDN lacks merit and anticipates no impact on its financial, operational, or other activities.
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See the model portfoliosA plain-language summary of a public exchange filing by 5Paisa Capital Limited. Read the original for the full detail.