Emmvee Subsidiary Receives ₹38.4 Crore GST Show Cause Notice
Emmvee's subsidiary received a ₹38.44 crore GST Show Cause Notice for alleged excess ITC claim in FY 2022-23. The company disputes the allegations, claiming eligible ITC was availed and no material financial impact is expected.
A substantial demand of ₹38.44 crore has been proposed, although the company believes it will not have a material financial impact.
The company believes the allegations are not sustainable and does not expect a material financial impact, but a significant demand has been made.
Emmvee Energy Private Limited, a material subsidiary of Emmvee Photovoltaic Power Limited, has received a Show Cause Notice from the Karnataka State GST Department. The notice, dated September 30, 2026, alleges excess availment of Input Tax Credit (ITC) for the Financial Year 2022-23. The proposed demand includes ₹20,39,04,267 in GST, ₹16,01,84,958 in interest, and ₹2,03,90,427 in penalty, totaling ₹38,44,79,651.
The company believes the allegations are not sustainable, stating that it has only availed eligible ITC of ₹11,51,16,900 as per applicable GST provisions. Emmvee Energy Private Limited is preparing to file a response within the prescribed timeline and is of the preliminary view that no interest or penalty is payable. The company does not expect any material financial impact from this notice.
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Emmvee Photovoltaic Power Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. 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 Emmvee Photovoltaic Power Limited. Read the original for the full detail.