Bannari Amman Sugars Receives GST Show Cause Notice for ₹29.75 Cr

Bannari Amman Sugars Ltd has received a Show Cause Notice dated August 18, 2026, from the Deputy Commissioner of Commercial Taxes (Audit) - 3, Mysuru, Government of Karnataka. The notice pertains to the financial year 2020-21 and alleges excess availment of Input Tax Credit (ITC) amounting to ₹10,137,852. The proposed tax, interest, and penalty sum up to approximately ₹29,759,831. The company had previously submitted detailed replies and reconciliations to the GST authorities. Bannari Amman Sugars is currently examining the notice and intends to submit a formal reply within the prescribed time, asserting its intention to contest the proceedings and does not anticipate any material impact on its operations.