Tax & Penalty24 Aug 2026, 06:40 pm
Raghuvir Synthetics Receives ₹2.24 Cr GST Show Cause Notice
AI Summary
Raghuvir Synthetics Ltd has received a Show Cause Notice from the Directorate General of GST Intelligence for the financial years 2020-21 to 2024-25. The notice, along with Form GST DRC-01, alleges violations related to the availment and utilization of Input Tax Credit. The aggregate amount of tax, interest, and penalty stated is approximately ₹2,24,20,454. The company believes it has appropriately availed Input Tax Credit and anticipates no material impact on its operations. A one-day delay in disclosure was attributed to internal review and consultation with tax professionals.
Key Highlights
- Received GST Show Cause Notice for ₹2.24 Cr for FY21-FY25.
- Allegations concern Input Tax Credit availment and utilization.
- Company believes ITC was appropriately availed; no material impact expected.
- Disclosure delay of one day was procedural and inadvertent.
Price Impact
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