Tax & Penalty30 Sept 2026, 04:40 pm
IRFC Receives GST Show Cause Notice for ₹396.9 Cr
AI Summary
Indian Railway Finance Corporation Ltd (IRFC) has received a Show Cause Notice (SCN) from the Joint Commissioner of State Tax, Hajipur Circle, for an amount of ₹3,96,90,78,153.59 (approximately ₹396.91 Crore). This notice, issued under Section 73 of the BGST/CGST Act 2017, pertains to the period April 2022 to March 2023 and includes applicable interest and penalty. IRFC is currently evaluating the SCN with its tax advisors and plans to file a detailed reply within the prescribed timelines, pursuing all available legal remedies. The company stated that the financial implications cannot be quantified at this stage as an order has not yet been issued.
Key Highlights
- IRFC received a GST Show Cause Notice for ₹396.91 Crore.
- The notice covers the period April 2022 to March 2023.
- It includes potential interest and penalty charges.
- IRFC is evaluating the notice and will file a reply.
- Financial implications are currently unquantifiable.
Price Impact
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