Dreamfolks Receives GST Demand Notice of ₹1.58 Crore for FY22
Dreamfolks Services Limited received a GST Demand cum Show Cause Notice for FY21-22. The notice demands ₹78.87 lakh tax and ₹78.87 lakh penalty, totaling ₹1.58 crore, plus interest. The company expects no immediate material impact and is preparing a reply.
The amount involved (₹1.58 crore) is significant enough to potentially impact financials if not resolved favorably. However, the company's statement about no immediate material impact suggests the current impact is manageable.
The company has received a demand notice for tax and penalty, which is a negative event. However, the company has stated that it does not foresee any immediate material impact and is preparing a reply, which mitigates the immediate negative sentiment.
Dreamfolks Services Limited has received a Demand cum Show Cause Notice dated November 09, 2026, from the Office of the Commissioner of CGST (Audit), Gurugram. The notice, issued under Section 74(1) of the Central Goods and Services Tax Act, 2017, pertains to the financial year 2021-22. It relates to Input Tax Credit (ITC) availed on invoices issued by a supplier whose GST registration was subsequently cancelled retrospectively, although the supplier had deposited the applicable GST.
The total demand includes a tax of ₹78,86,667 and a proposed penalty of ₹78,86,667, along with applicable interest for both IGST and CGST. The total amount demanded is ₹1,57,73,334 (approximately 1.58 crore).
The company received this communication on October 9, 2026. Dreamfolks stated that it does not currently foresee any immediate material impact on its financials, operations, or other activities as a result of this notice. The company is in the process of preparing and submitting an appropriate reply to the Show Cause Notice within the stipulated timeline.
What to do with a filing like this
Dreamfolks Services Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Dreamfolks Services Limited. Read the original for the full detail.