Prince Pipes Receives ₹2.74 Cr GST Demand Notice

Prince Pipes and Fittings Ltd has received a Show Cause cum Demand Notice from the Rajasthan State Goods & Service Taxes Department for the financial year 2022-23. The notice, issued under Section 73 of the CGST/RGST Act, 2017, pertains to alleged excess outward tax in E-way Bills compared to GSTR3B and excess ITC claimed in GSTR 3B not confirmed in GSTR 2A/2B or GSTR 9. The total demand amounts to ₹2,74,41,122 (₹2.74 Crore), comprising tax, interest, and penalty. The company believes the demand is not maintainable and plans to submit a reply within the prescribed time, anticipating no significant impact on its financials or operations.