Praveg Ltd Receives Show Cause Notice from GST Authorities for Alleged Wrongful Availment and Utilization of Inadmissible Input Tax Credit

Praveg Ltd has received a Show Cause Notice from the Goods and Services Tax (GST) Authorities under Section 74 of the Central Goods and Services Tax Act, 2017. The notice alleges wrongful availment and utilization of inadmissible input tax credit (ITC) for the financial year 2020-21, amounting to INR 19,10,758/- plus applicable interest and penalty. The Company is currently reviewing the notice and preparing a response, believing that it has complied with the applicable GST laws and regulations. The Company does not foresee any immediate material impact on its financials, operations, or other activities.