Elitecon International faces ₹442 Cr GST demand notice
Elitecon International Ltd has received a show cause notice from the Directorate General of GST Intelligence (DGGI) on April 7, 2026. The notice alleges non-compliance with various provisions of the CGST, UP GST, IGST, and GST (Compensation to States) Acts. Allegations include issues related to goods valuation, input tax credit eligibility, classification, record maintenance, return filing, and refund claims. The proposed demand totals approximately ₹442.29 crore, comprising ₹221.89 crore in tax, ₹129.18 crore in interest and penalty, and ₹91.22 crore for refund recovery. Elitecon is currently reviewing the notice and plans to take appropriate legal measures to respond. The company emphasizes that the matter is preliminary, and the final financial impact remains contingent on the adjudication proceedings.
Key Highlights
- Elitecon received a GST show cause notice from DGGI on April 7, 2026.
- Notice alleges violations in GST compliance, including ITC and valuation.
- Proposed demand totals approximately ₹442.29 Cr in tax, interest, and penalty.
- Company is reviewing the notice and will take appropriate legal steps.
- Financial impact is contingent on the outcome of adjudication proceedings.