Eureka Forbes GST Liability Reduced to ₹4.50 Crore from ₹273.40 Crore
Eureka Forbes received a Rectification Order from UP GST authorities, reducing alleged liability from ₹273.40 Crore to ₹4.50 Crore. The company disputes the rectified SCN and plans to contest it. No material financial impact is anticipated.
While the liability has been substantially reduced and the company does not expect a material impact, the remaining ₹4.50 Crore liability and the ongoing contestation warrant a medium impact assessment.
The reduction in the alleged tax liability from ₹273.40 Crore to ₹4.50 Crore is a significant positive development for the company.
Eureka Forbes Limited announced on October 01, 2026, that it has received a favorable Rectification Order from the Uttar Pradesh GST authorities. This order, issued under Section 161 of the Uttar Pradesh Goods and Services Tax Act, 2017, reduces the aggregate amount of the alleged liability from ₹273.40 Crore to ₹4.50 Crore.
The original Show Cause Notice (SCN) had indicated a tax liability of ₹149.21 Crore, along with interest of ₹109.27 Crore and a penalty of ₹14.92 Crore, totaling ₹273.40 Crore for the financial year 2022-23. The rectified SCN now revises the liability to ₹3.19 Crore for tax, ₹0.99 Crore for interest, and ₹0.32 Crore for penalty, aggregating to ₹4.50 Crore.
The company maintains its view that the rectified SCN is also without merit and not sustainable in law or procedure. Eureka Forbes intends to contest the matter comprehensively within the prescribed timelines. The company does not foresee any material impact on its financials, operations, or other activities arising from this rectified SCN.
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Eureka Forbes 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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