TVS Srichakra faces ₹17.53 Crore GST demand notice for FY23
TVS Srichakra Limited received a Show Cause Notice from the Deputy Commissioner of State Tax for FY 2022-23. The notice proposes a demand of ₹17.53 Crore, comprising ₹8.05 Crore tax, ₹7.78 Crore interest, and ₹1.70 Crore penalty, for alleged excess Input Tax Credit availment. The company is preparing a detailed response.
The tax demand of ₹17.53 Crore is a material amount for the company and could impact its financial performance if not resolved favorably. However, it is currently at the notice stage.
The company has received a significant tax demand notice, which could lead to financial implications and legal proceedings.
TVS Srichakra Limited has disclosed the receipt of a Show Cause Notice dated September 28, 2026, from the Deputy Commissioner of State Tax, Bhiwandi, Mumbai. The notice pertains to the Assessment Year 2022-23 and alleges excess availment of Input Tax Credit (ITC) in GSTR-3B compared to GSTR-2B.
The total proposed demand aggregates to approximately ₹17.53 Crore, which includes tax of ₹8.05 Crore, interest of ₹7.78 Crore, and a penalty of ₹1.70 Crore. The company states that it had already submitted its response and representations, which appear not to have been considered in the issuance of this notice.
TVS Srichakra Limited is currently evaluating the contents of the notice and is in the process of filing a detailed response before the concerned authority within the prescribed timeline. The company believes it has valid grounds to substantiate its position and will pursue appropriate legal remedies. The matter is at the notice stage, and no final order has been passed by the authority.
What to do with a filing like this
TVS Srichakra Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. 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 TVS Srichakra Limited. Read the original for the full detail.