Tax & Penalty1 Oct 2026, 06:30 pm
Interarch Building Solutions Faces ₹8.3 Cr Tax Demand
AI Summary
Interarch Building Solutions Ltd has received a notice under Section 73(1) of the Central Goods and Service Tax Act, 2017, from the Punjab GST authorities. The notice, dated October 1, 2026, pertains to discrepancies for the Financial Year 2022-23. Specifically, it cites a mismatch between sales declared in GSTR 1 and e-way bills issued, along with ITC claimed on blocked credits under Section 17(5). The total demand amounts to ₹82,976,414.10, comprising basic tax of ₹45,591,436.32, interest of ₹32,825,834.15, and a penalty of ₹4,559,143.63. This action could impact the company's financial operations.
Key Highlights
- Received GST notice for FY2022-23 with a demand of ₹8.3 Cr.
- Discrepancies include sales declaration, e-way bills, and ITC claims.
- Interest and penalty components contribute significantly to the demand.
- Potential financial and operational impact on the company.
Price Impact
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