Innovision Ltd Faces ₹10.7 Cr GST Demand Notice

Innovision Ltd has received a Show Cause Notice from the Principal Commissioner, Central Goods and Services Tax, Gurugram, proposing a recovery demand of ₹10,70,41,228.15. This demand comprises ₹5,35,20,614.07 in CGST and ₹5,35,20,614.07 in SGST, along with applicable interest and penalty. The notice pertains to exemptions claimed on certain supplies for tax periods FY 2020-21 to FY 2024-25. The company believes the matter is similar to a previous case decided in its favor and intends to contest the demand. As it's a Show Cause Notice, no immediate material financial impact is expected.