Awfis Space Solutions Ltd Receives Order to Attach Bank Accounts Due to Excess ITC Claim

Awfis Space Solutions Ltd has received orders from Joint Commissioner of State Tax, Nodal - 2, Mazgaon, Mumbai directing HDFC Bank Limited and ICICI Bank Limited to provisionally attach the operative bank accounts of the company. The order was issued due to the alleged excess ITC of INR 4,42,26,020 claimed in GSTR - 3B, which is beyond the available ITC in GSTR - 2B of October, 2024. The company has decided to reverse the above amount of ITC as per the decision tendered by the Hon’ble Supreme Corporate and Regd. Office in the case of Safari Retreats (2024 VIL 45 SC). The reversal of ITC will result in the resolution of the issue as identified by the concerned order in GST DRC-22, and there will be no financial impact on the entity in relation to the said order.