Max Estates Subsidiary Receives ₹5.9 Cr GST Show Cause Notice

Max Estates Limited's subsidiary, Pharmax Corporation Limited, has received a show cause notice from the Department of Trade and Taxes, Government of NCT of Delhi, for FY 2022-23. The notice, issued under GST laws, proposes a demand of ₹5,90,00,108, primarily related to alleged excess or ineligible input tax credit. The subsidiary is reviewing the notice and will file a reply. No final order has been passed, and the financial impact is contingent on adjudication proceedings. Operations of the company and its subsidiary remain unaffected at this stage.