Music Broadcast Ltd Receives GST Show Cause Notice for ₹11.57 Cr Demand

Music Broadcast Ltd has received a Show Cause Notice (SCN) from the State Tax Authority, Lucknow, alleging short payment of tax and irregular Input Tax Credit (ITC) claims for FY 2022-23. The total demand raised is approximately ₹11,57,81,759, including tax, penalty, and interest. The allegations pertain to mismatches in tax liability reporting, ineligible ITC claims, and short payment under reverse charge mechanism. The company disputes these allegations and plans to submit a detailed reply. Music Broadcast Ltd does not expect any material financial impact at this stage, as it intends to contest the matter on merits.