SRF Receives ₹266 Crore GST Show Cause Notice; Plans to Contest
SRF Limited received a show cause notice from CGST & Central Excise demanding ₹266.32 crore for alleged Input Tax Credit (ITC) disallowances for FY23 and FY24. The company plans to contest the notice, believing it to be legally untenable and expecting no financial impact.
The notice involves a significant amount of ₹266.32 crore, which could have a material impact if the company loses the case. However, the company's strong belief in contesting the matter and expecting no financial impact mitigates the immediate impact to medium.
The company has received a show cause notice, which indicates a potential financial liability. However, the company believes the notice is not legally tenable and intends to contest it, suggesting a neutral outlook as the outcome is uncertain.
SRF Limited has announced that it has received a show cause notice from the Additional Commissioner, CGST & Central Excise, Vadodara -II Commissionerate. The notice, dated September 29, 2026, pertains to the alleged disallowance of Input Tax Credit (ITC) amounting to ₹266.32 crore for the financial years 2022-23 and 2023-24.
The company is currently reviewing the notice and intends to submit an appropriate response to the concerned authority. SRF Limited believes that the allegations made in the show cause notice are not legally tenable and plans to contest the matter before the appropriate legal forum. The department has alleged a mismatch between the ITC claimed in statutory GST returns and the auto-generated statement on the GST portal, proposing a demand for GST along with applicable interest and penalty.
SRF Limited stated that it is in the process of reviewing the show cause notice and will take appropriate steps to submit a suitable reply. The company's management is of the view that the show cause notice is not sustainable and anticipates no financial impact.
What to do with a filing like this
SRF 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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