Eureka Forbes Receives GST Show Cause Notice for ₹273 Crore Demand
Eureka Forbes received a GST Show Cause Notice for ₹273.40 Crore, including ₹149.21 Crore tax, ₹109.27 Crore interest, and ₹14.92 Crore penalty for FY 2022-23. The company believes the notice lacks merit and intends to contest it, expecting no material financial impact.
While the company states no material impact is expected, the potential claim of ₹273.40 Crore is substantial and could have a medium-term impact if the litigation proceeds unfavorably.
The company received a significant tax demand notice, which could be negative. However, the company believes it is not sustainable and does not expect a material impact, indicating a neutral stance.
Eureka Forbes Limited has received a Show Cause Notice (SCN) dated September 25, 2026, from the Deputy Commissioner, State Tax, Lucknow, Uttar Pradesh. This notice, issued under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017, pertains to the financial year 2022-23.
The SCN alleges a tax liability of ₹149.21 Crore, along with interest of ₹109.27 Crore and a penalty of ₹14.92 Crore, aggregating to a total of ₹273.40 Crore. The company notes that the proposed demand appears to be computed based on pan-India financial information from FY 2022-23 without establishing specific transaction-level liability attributable to its Uttar Pradesh GST registration.
Eureka Forbes is of the considered view that the SCN is devoid of merits and unsustainable. The company intends to contest the notice comprehensively within the prescribed timelines. Eureka Forbes does not anticipate any material impact on its financials, operations, or other activities as a result of this notice. The disclosure is being made on September 28, 2026, the first working day following the receipt of the notice after office hours on Friday, September 25, 2026.
What to do with a filing like this
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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See the model portfoliosA plain-language summary of a public exchange filing by Eureka Forbes Limited. Read the original for the full detail.