Legal26 Mar 2026, 03:38 pm
Shahlon Silk Industries Faces Rs. 5.5 Crore Penalty Proposal from GST Department
AI Summary
Shahlon Silk Industries Ltd. has received a Show Cause Notice from the GST Department, pertaining to F.Y. 2023-24 and F.Y. 2024-25. The Notice, issued under Section 122 of the CGST Act, 2017, proposes a penalty of Rs. 4,23,77,938/- for F.Y. 2023-24 and Rs. 1,26,66,464/- for F.Y. 2024-25, totaling to Rs. 5,50,44,402/-. The Company is currently analyzing the Notice and will file a reply in due course.
Key Highlights
- Shahlon Silk Industries Ltd. has received a Show Cause Notice from the GST Department.
- The Notice pertains to F.Y. 2023-24 and F.Y. 2024-25.
- The proposed penalty under the CGST Act, 2017, amounts to Rs. 4,23,77,938/- for F.Y. 2023-24 and Rs. 1,26,66,464/- for F.Y. 2024-25, totaling to Rs. 5,50,44,402/-.
- The Company is currently analyzing the Notice and will file a reply in due course.
- There is no current impact on the financial and operational activities of the Company.