Company 504093 receives GST demand for ₹31.07 Lacs ITC, ₹3.30 Lacs penalty

Company 504093 received an order from the Assistant Commissioner Central GST and Central Excise, Vadodara, dated May 27, 2026. The order disallows Input Tax Credit (ITC) of ₹31,06,999 under section 73(1) of the CGST Act, 2017, and confirms interest under section 50 of the CGST Act, 2017. A penalty of ₹3,30,363 was imposed under section 73 read with section 122(2)(a) of the CGST Act, 2017. Additionally, a late fee of ₹150 was demanded for the late filing of GSTR 1. The total financial implication from the penalty is ₹3,30,363, in addition to the disallowed ITC and interest.